People cinching their wallets this holiday season won’t be hiding that fact if and when they host parties
People cinching their wallets this holiday season won’t be hiding that fact if and when they host parties. Retailers and brand manufacturers will feel it for sure – and holiday guests will likely experience fewer frills, as the economic strain affecting many households will color Christmastime across America.
A SupermarketGuru.com Quick Poll shows that savings strategies will be in full tilt this Christmas season: three out of four who expect to entertain at home will use coupons (76%) and buy more items on sale (75%), while slightly more than half will plan ahead and buy early (53%) and visit multiple stores for deals (53%).
For two out of three who plan to host at least one holiday party this year (67%), price will play a role in purchase decisions. This is nearly 30 percentage points higher than the next three factors – nutrition (39%), time (38%) and convenience (37%), the survey findings show.
More than eight out of 10 survey respondents predicted a muting of their holiday cheer: nearly half (48%) have no plans to host a party this season, and a third (33%)will cut back on expenses on the parties they do host.
Some of the ways they might save money:
• 62% might purchase more generic products to cook or bake.
• 43% would consider making their party potluck style.
• 25% would ask guests to contribute more to the party this year.
On the other hand, people are sensitive to the burdens we all feel. Therefore, two out of three (67%) expect to contribute more to parties they do attend to help ease the financial burden of the host. And just fewer than one in four (24%) said they would consider trimming their guest lists.
The Web will play a role this holiday season as well. According to the survey, half (49%) plan to find recipes and party planning ideas on social networks. And a quarter (25%) expect to invite guests using a website or e-mail invitation.