Two in five shoppers will spend just $24 or less due to cost-of-living concerns
Indianapolis, US– just 20% of US consumers consider Easter “important”, with almost a quarter (24%) reducing their spend this year, according to the latest consumer spend data from omnichannel engagement platform Emarsys, an SAP company.
41% of us will be spending just $24 or less all-in this weekend, with 51% citing the cost-of-living crisis and inflation as the motivation for cutting back. Indeed, cost was the most important consideration for purchasing items this Easter, with 44% prioritizing price above all else.
Chocolates will unsurprisingly make up a third (33%) of all gifts, with flowers, decorations and meals out (all 17%) the next most popular choices. Despite being egged on by in store advertising, most purchases will be online through big online retailers such as Amazon (24%) as well as department stores (21%).
“When it comes to family occasions, people don’t feel pressured to spend large amounts as long as they’re sure that the recipient will feel loved,” Megan Hostetler, Global Senior Product Marketing Manager, Emarsys, commented. “It’s a marketplace driven by sentiment above all else. Buyers need to emotionally connect with a gift and will dismiss superficial or unrelated options out of hand.”
“From a brand perspective, the best way to make items stand out emotionally is to recommend them based on an honest, personal understanding of that customer – meaningful personalization at the perfect moment. Only a genuine customer obsession can enable brands to consistently deliver that experience.”