Nearly half of Gen Z will buy holiday gifts on social media, survey finds

By: Trademagazin editor Date: 2023. 10. 18. 09:11

Many in the generation expect to spend more than last year and will shop earlier if retailers introduce discounts sooner, according to a Shopify report.

Following forecasts of higher holiday retail sales, nearly three-fourths (74%) of shoppers expect their holiday gift budget to remain the same or increase compared to last year, according to a Shopify and Gallup survey of 1,761 U.S. consumers conducted last month. Thirty-seven percent of Gen Z shoppers expect to spend more on their holiday purchases than last year, the survey also found.

Less than half (41%) of shoppers plan to start their holiday shopping in October, followed by 39% who are doing so in November and 20% in December. Though nearly all (93%) of shoppers plan to buy at least some of their gifts online, almost half of shoppers (47%) anticipate purchasing all or most of their gifts online.

Shopify found that nearly half (48%) of Gen Z consumers plan to buy at least some gifts through social media, a greater share than the third of all U.S. consumers that plan to do so.

Forty-eight percent of Gen Z survey respondents also said they would buy their holiday gifts early if retailers began introducing their holiday deals and promotions sooner.

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