Consumers will spend around $422 shopping for holiday gifts this 2016 season, according to new research comprised by Fit Small Business.
To get to this specific number, Fit Small issued a survey that included questions on how much consumers expected to spend, their willingness to shop at small businesses and reasons they may choose larger companies.
Some of these findings included:
- 52 percent of consumers plan to shop the weekend following Thanksgiving.
- Of those aged 35-54 surveyed, over 60 percent expect to spend $300 or more on gifts this holiday season.
- Supporting local business is the number-one reason consumers shop small, with 50 percent of respondents listing it as a major reason they would do so.
- That being said, 54 percent said they had never heard of Small Business Saturday, and only 15 percent said they planned to shop on the day.
David Waring, co-founder of Fit Small Business, commented on the findings, saying, “This research illustrates the work small businesses need to put in to make sure Small Business Saturday is a success for them this holiday season. While consumers are happy to support small, local business, they’re not always aware of initiatives to boost spending here.”