Research Highlights Consumer Sentiment Ahead of the Election, Holiday Season
Recent research from Kroger’s data analytics subsidiary, 84.51, explores how the grocer's shoppers/households are preparing for the holiday season, October through December, and how election-related dynamics are influencing consumer behavior and sentiments.
Key findings from 84.51’s September Consumer Digest show that election-related uncertainty is impacting consumer decisions across various age groups.
Key findings related to holiday shopping
96% of respondents plan to celebrate one or more upcoming holidays:
- Halloween: 65%
- Thanksgiving: 89%
- Christmas: 91%
- New Year's Eve/Day: 69%
91% of shoppers will spend the same or less compared to last year:
- Spend more: 10%
- Spend same: 54%
- Spend less: 37%
What shoppers are prioritizing/looking for while holiday shopping:
- Sales/deals/coupons available: 71%
- Availability of items: 70%
- One-stop-shop: 34%
- Personalized shopping experiences (e.g., promos, rewards, support): 26%
- Online ordering for delivery or pickup: 22%
- Extended store hours: 19%
Although shoppers are looking for ways to save, many will continue splurging on gifts and food:
- Gifts: 44%
- Food: 43%
- Travel: 18%
- Clothing: 17%
- Holiday entertainment: 16%
- Decorations/décor: 14%
- Holiday parties: 12%
- None of the above: 25%
Where will shoppers search for holiday deals?
- Digital coupons: 75%
- Weekly ads/circulars (paper or digital): 65%
- Retailer’s website: 60%
- Retailer app: 52%
- Cashback apps/sites (e.g., Rakuten, Ibotta, etc.): 36%
- Personalized paper coupons: 34%
- By word of mouth: 27%
- Manufacturer's website: 25%
Percentage of shoppers who plan to use technology while holiday planning:
- For gift ideas: 21%
- For new recipes: 21%
- To make a grocery list: 20%
- Discover new holiday traditions: 10%
- To learn about holiday meaning/history: 9%
- Plan a holiday trip: 9%
- Top triggers to start holiday shopping:
- Specific sales (Labor Day, Black Friday, etc.): 56%
- Seeing holiday decorations/décor in-store: 31%
- Family and friends starting their shopping: 30%
Kroger shoppers typically start planning for:
- Halloween: 47% plan 2 weeks – 1 month ahead
- Thanksgiving: 59% plan 2 week – 1 month ahead
- December holidays: 63% plan 1-3 months ahead
For Halloween, 84.51 found that shoppers are sticking to “tried-and-true” traditions and will make seasonal purchases to celebrate. This year, shoppers are looking for deals and savings on candy, decorations and costumes.
Additionally, in-store shopping is favored for Halloween. For candy purchases, consumers will shop at:
- Physical grocery store: 62%
- Physical mass retailer: 43%
- Club stores: 23%
Findings related to the 2024 election
Engagement Levels: 34% of shoppers are extremely engaged with the election, while 57% are moderately engaged, which 84.51 says underscores the “high level of national attention focused on the political landscape.”
Financial Procrastination:
- 18% of shoppers are delaying big-ticket purchases.
- 15% are holding off on investment decisions.
- 13% are postponing car purchases.
- Conversely, 53% of shoppers are not delaying any purchases due to the election.
Age-Related Optimism: Older shoppers are more optimistic about the election compared to their younger counterparts:
- 19% of shoppers aged 18-34 are optimistic, with 17% feeling pessimistic.
- 19% of shoppers aged 35-54 are optimistic, while 21% are pessimistic.
- 29% of shoppers aged 55-74 are optimistic, with 20% feeling pessimistic.