What retailers need to know about gifting behavior
A new report from Etsy shows that consumer gifting behavior is shifting along with their shopping preferences.
According to the report, nearly one third of shoppers (31 percent) consider winter holidays their favorite occasion to give a gift, in second place behind gifts that are 'just because' (34 percent).
"Nearly 90% of respondents would describe the holidays as magical. Etsy brings the magic the holiday season deserves — it is the destination to find fun, creative, festive, handmade, one-of-a-kind gifts for your loved ones," said Dayna Isom Johnson, Etsy's Resident Trend Expert.
Key takeaways from the survey include:
- Happiness is Contagious: 86 percent of shoppers would prefer to give a gift over receiving one. The biggest reasons why? They enjoy making other people happy (59 percent), followed by 'it shows love' (15 percent) and 'it allows me to be creative' (11 percent). Seeing the person's reaction is a huge part of giving a gift, with over half of respondents (57 percent) saying they like when people open presents right in front of them.
- Home is Supposedly Where the Shopping Is: When shopping online for gifts, 87 percent of respondents prefer to do it from the comfort of their homes. Only 10 percent claim they mostly shop online while at work or school.
- The Early Bird Gets the Gifts: Over a quarter of shoppers claim to do their shopping within a month of the holiday (29 percent), almost one fourth (23 percent) say they shop within two months, 25 percent choose to do their holiday shopping throughout the year, 12 percent buy their gifts within two weeks or less before the holidays and only two percent claim they don't shop for holiday gifts at all.
- The Most Special Time of the Year: When asked what makes the holiday season special, most shoppers rank spending time with the family as most important (83 percent) followed by holiday spirit (68 percent), food activities (61 percent) and giving gifts (59 percent). Receiving gifts, on the other hand, is less important (28 percent).
- For The Kid In All Of Us: 38 percent of those surveyed said their favorite people to shop for are children – this is especially true for people who have kids living at home (68 percent).
- Sorry, Mom and Dad – Singles Prefer Gifting Their Friends: Singles prefer shopping for their friends (78 percent) around the holiday season followed by their parents (62 percent) and siblings (61 percent).
- Millennials Love the Reason for the Season (Giving!): According to Etsy's survey, younger buyers (18-44) are more likely to consider winter holidays their favorite occasion to give a gift compared to older age groups who prefer to give gifts 'just because.'
A total of 1028 U.S. Etsy buyers participated in an online survey from Aug. 30 to Sept. 11. The sample was taken from Etsy's database of buyers with at least one purchase within the past six months and respondents were randomly contacted and invited to take part in the survey via email. The research was developed and conducted by Etsy.