Consumer Behavior

Consumers worried about rising cost of goods

Adobe Stock

September 12, 2023

More than half, 54%, of American consumers are worried they won't be able to afford the gifts they want to buy this holiday season and 58% expect to spend the same amount of money as they did a year ago.

Those are findings from a Kenco survey, a third-party logistics provider.

The survey also revealed 59% will shop on Black Friday and 53% will seek deals on Cyber Monday, while 44% have already taken advantage of goods sold on Prime Day, according to a press release on the findings.

Additionally, more than one-third (35%) will be taking advantage of post-holiday sales.

"Armed with this knowledge, retailers should consider marketing additional sales and creating more shopping holidays to not only spread out consumer spending, but also flatten the curve of peak season logistics and its respective labor challenges," Jason Minghini, SVP, operations at Kenco, said in the release. "By incentivizing consumers to shop on additional days, retailers can also avoid potential shipping delays caused by high order volumes."