US Price –Sensitive consumers drive holiday deals!
According to the Morgan Stanley research, said, “With holiday shoppers worried about inflation, big-ticket items like electronics have lost their shine though travel should remain robust.” It say in details that, this holiday season, most U.S. consumers will put their hard-earned dollars toward experiences such as travel and vacations, while scaling back on buying computers, kitchen gadgets and other goods—and they will be extra vigilant about looking for deals as economic uncertainty continues to affect buying behavior.
In fact, an overwhelming majority of shoppers—70%—are waiting for stores to offer discounts before they start buying, per a new Morgan Stanley Research survey of some 2,000 U.S. consumers. Rising prices are their top concern, with even more price sensitivity reported this year than last.
“It is no surprise that the headwinds of the past year are catching up to consumers and forcing them to be more conservative this winter,” says Sarah A. Wolfe, a Morgan Stanley economist. “We see persistently higher inflation, rising interest rates and fading excess savings as the main obstacles to holiday shopping this year.”
Here are the survey’s five key takeaways, 1. Consumers Delay Spending for Sales, Oversupply Threatens Profits, 3. Holiday Favorites Lose Shine, 4. Dining at Home Wins Over Dining Out & 5. Airlines Take Off.