Holiday Shopping Study 2024: European Consumers Plan Ahead Amid Economic Pressures

By: Trademagazin Date: 2024. 11. 22. 12:32

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The “Holiday Shopping Study 2024,” conducted by ShopFully and Offerista Group, surveyed 4,312 users aged 18 and older across eight European countries (Austria, Bulgaria, Germany, Spain, France, Italy, Romania, and Hungary) through their apps during September and October 2024.

Planning Expenses Under Economic Strain

Economic challenges and the holiday season are prompting Europeans to carefully plan their expenses. Inflation remains the top concern, with France (85%) reporting the highest level of anxiety, followed closely by Spain (76%) and Italy (73%). Rising costs, energy prices, and financial pressures are driving consumers to focus their spending primarily on essentials such as food and beverages.

Timing Matters: Savvy Shoppers Seek Discounts

In response to inflation, many Europeans are adopting a proactive approach to holiday shopping by taking advantage of sales and promotions. This year, 40% of European consumers plan to start shopping early, with the trend most prominent in France (59%) and Spain (43%). The primary motivations include spreading out expenses (56%) and securing the best deals (46%). While many plan their purchases around Christmas promotions or throughout December, Italy stands out, with 27% of shoppers beginning as early as Black Friday to capitalize on early discounts.

Digital Search Leads, But In-Store Shopping Remains Crucial

When hunting for the best holiday deals, European shoppers increasingly rely on digital resources, with digital media usage nearly doubling compared to traditional media. Retailers’ websites are driving this shift, complemented by the growing influence of social media, particularly in Italy and Spain. Despite this, local stores remain a key source of inspiration for holiday shoppers.

As for actual purchases, nearly half of Europeans employ a hybrid approach, blending in-store and e-commerce shopping, while only 10% shop exclusively online. Romania (59%), Spain (49%), and Hungary (48%) favor in-store shopping, whereas Germany (62%) and Austria (56%) lead in combining offline and online channels.

The study underscores a significant shift in consumer behavior, highlighting the growing importance of early planning, digital platforms, and hybrid shopping methods in navigating economic pressures during the holiday season.