Holiday Shopping the Millennial Way
When you go holiday shopping, what do you find is always at the top of your list? Based on a
research study performed by Buzz Marketing, Millennials ranked gift cards as their number one.
Gift cards are listed as the number one item in the top five most common items for holiday
shopping this year; followed by toys, electronics, books, and clothing.
While doing their holiday shopping, 95% of study participants disclosed that they’ll be doing
their holiday shopping alone this year and 75% say that they’ll go as many times as they need
to. In fact, only 3% claim to be able to complete their holiday shopping in just one trip.
98% plan on buying gifts for their family members and 90% also claim that family is who they
will be spending the most money on. 49% also admit that they’ll be self-indulging this year and
buying a few things for themselves. While making these purchases, 94% will be doing some of
their holiday shopping online. In true Millennial fashion, only 19% will be making any type of
purchase from a catalog.
This year, most Millennials plan to spend about the same as they did in years prior; only 32%
say that they will be spending more this year. In that same thought, 22% plan to spend over
$1200 this year. The next two most common spending brackets are between $400 and $600
(19%) and between $600 and $800 (15%).
Another interesting statistic when finding the most common price points is finding out the type
of employment these participants have. Only 65% of respondents works a full-time job;
followed by 14% who work part-time and the mild 4% who are currently unemployed.
However, when it comes down to actually purchasing the products, participants ranked finding
the lowest price point as third in priority; quality came in at number one followed by value.
These rankings perfectly tie into one of the larger statistics in this study; who will be looking for
the best sales versus just buying off-the-cuff? To answer this, it’s almost everyone. 95% will do
comparative shopping online before making purchases and a whopping 99% will be looking for
the best sales this year; no surprise there!