According to the Amex Trendex, a trend report from American Express, consumers plan to celebrate, shop and travel more thoughtfully this year.
Last year, COVID-19 variants disrupted many consumers’ long-awaited plans: more than half (52%) of consumers had plans canceled last holiday season and are planning to make up for lost time. This year, they are moving ahead with travel plans, gift shopping, and other celebrations but want to ensure they are spending time and money on gifts and experiences that really matter.
Consumers Prioritizing Getting the Right Gift
The Amex Trendex found that more than almost 8-in-10 (78%) consumers surveyed agree that they want to be more selective with gift shopping this holiday season and three-fourths (77%) agree they would spend more if it meant getting the right gift.
- 72% of consumers surveyed prefer to shop at small businesses during the holidays to get more personalized and unique gifts
- 72% of consumers surveyed are looking for holiday gift options and discounts earlier in the year than they used to
- 59% of consumers surveyed agreeing they want to buy themselves a gift this holiday season
Giving Back to Others, Supporting Communities
Consumers are taking steps to support their local communities during the holidays. According to the Amex Trendex, more than three-fourths (77%) of consumers surveyed believe it’s more important than ever to support small businesses this holiday season.
- More than three-fourths (76%) of consumers surveyed say they tip 10% more than usual during the holidays
- 72% of consumers surveyed love dining out at their favorite local restaurants during the holidays to support small businesses
- 61% of consumers surveyed plan on donating to charity this holiday season
Consumers Traveling to Celebrate, Reconnect
A desire to spend time with loved ones is driving holiday travel plans this year and many consumers will travel to make up for lost time or canceled plans. The Amex Trendex found that 47% of consumers surveyed plan to travel for family gatherings this holiday season and almost half (48%) are making it a priority to attend out-of-town holiday gatherings that they missed due to the pandemic.
- 58% of consumers surveyed want to start or renew a tradition to travel during the holiday season
- Over half (53%) of consumers surveyed plan to take time off before or after the holidays to travel
- 43% of consumers surveyed agree they have been saving their credit card points this year to redeem for holiday travel
- 41% of consumers surveyed are choosing to travel by plane this holiday season rather than drive due to high gas prices