Financial Associated Press (Shanghai, editor Zhou Ling) news, On Wednesday (27th), Eastern Time, the Conference Board said that the holiday consumption willingness of American consumers this year is slightly lower than in 2020, which to some extent reflects the risks caused by rising prices and supply chain disruptions.
The survey shows that the average U.S. consumer intends to spend $648 on gifts this holiday season, down from $673 last year — two consecutive years lower.
Specifically: Gift card spending is expected to see the largest increase this year, followed by footwear and apparel; spending on sporting goods is expected to fall the most, followed by tools and equipment.
These trends may reflect before and after changes in vaccinations, with spikes in COVID-19 infection rates prompting social distancing during last year's holiday season. In contrast, consumers are expecting more social events this year, so the willingness to spend on gift cards has expanded.
In addition, the survey shows that spending on non-gift holiday supplies (such as food, decorations and wrapping paper) in the United States will reach $374 this holiday season. About 60 percent want to spend more money on gifts and food this year.
Still, "serious supply chain challenges and transport issues could hinder these spending intentions," warned Lynn Franco, senior director of economic indicators at the World Federation of Large Enterprises.
"If these problems persist, Americans could face an empty shelf, which will force more shoppers to get back online and also mean not being able to receive holiday purchases in time," he said. ”
Many industry companies have warned of the need to shop early this Christmas. Chris Butler, CEO of National Tree Company, a wholesaler of artificial Christmas trees, said not long ago, "People who want to buy Christmas trees and other decorations this holiday season, it is best to buy them before Thanksgiving, otherwise they may pay a high fee, and may not be able to buy anything at that time." He said this was due to disruptions in global supply chains.
The survey also showed that the relaxation of covid-19 restrictions has also changed consumer choices for vacations and shopping:
Back to shopping malls: Only 42 percent of U.S. consumers this year intend to buy at least half of their gifts online — down from 52 percent in 2020, the first year-over-year decline in 10 years.
Holiday travel plans: Nearly a third (30%) of consumers plan to travel during this holiday season. Of those, 48 percent intend to drive and 42 percent choose to fly.