How will consumers approach the 2024 holiday season?

Half (50%) of survey respondents feel more confident in the economy than they did last year.

With optimism around the economy improving, consumers say they are planning to spend more on gifts this holiday season, according to a new survey.

Optimove Insights’ new Report on Consumer Shopping Intentions for Holiday 2024 found that 50% of respondents feel more confident in the economy, up from 26% in 2023, and 61% plan to budget more for holiday gifts, compared to 35% last year. Nearly six-in-10 (59%) consumers now prioritize service over price, a 37% increase from 2023.

Loyalty will play a big role for nearly all of the surveyed consumers. Ninety-five percent of respondents are likely to revisit a brand or retailer after a positive experience, with 72% being very likely to return. Additionally, 58% of consumers prefer to shop at familiar stores, up from 42% in 2023, and 42% plan to purchase over 60% of their holiday gifts from brands they’ve previously patronized. Consumers also favor early access to promotions, with 56% wanting offers at least a month in advance, and 88% expecting personalized recommendations based on past purchases.

[READ MORE: Consumers’ preferences towards holiday promotions include…]