Survey: Sales, coupons still biggest holiday sales drivers

It still comes down to price. 

 

Despite more modern approaches, 89% of consumers said that deep discounts (including coupons) are the key determinant of what stores they will visit for holiday shopping this year, according to a survey of millennial and Generation Z consumers conducted by HRC Retail Advisory. 

 

In addition to finding that sales and coupons are more influential than any other tactic in motivating consumers to enter stores this holiday season, the survey also revealed: 

*Apparel: The apparel category is headed for a big win this holiday, as respondents plan to allocate more than 30% of their budget on apparel and footwear purchases for family and friends this year.

 

*Millennial and Generation-X parents are planning to spend 40% of an assumed $500 holiday budget for their children on clothing and shoes, versus a small 16% on gaming consoles and games.

 

 *Gift cards: An overwhelming percentage of study respondents will include gift cards in their holiday shopping this year, with  83% of millennial parents planning to include gift cards in their holiday purchases. Thirty-two percent  (32%) of respondents who intend to buy gift cards indicated that gift cards will comprise at least half of their holiday budget.  In a finding consistent across all generations studied, 62% of all study respondents with a preference preferred to receive a gift card rather than an actual gift.