Consumers still want to celebrate this holiday season - IT-Online

From snagging the best Black Friday deals to booking flights, the holidays can be very stressful for consumers. That has only been compounded over the last few years by the evolving Covid-19 pandemic, inflation, worries about gifts and other items being in stock, and more.Consumers’ changing demands have pushed retailers and travel providers to dramatically change their business strategies.

The global research shows nearly half of consumers surveyed will spend less if inflation continues to drive price increases. If they’re forced to cut their holiday shopping budget, over 60% of consumers surveyed will cut the non-essential categories like apparel, footwear, jewellery, and accessories. I

At the same time, consumers are hedging their bets. Nearly seven in ten consumers surveyed will opt for brands or retailers that offer free cancellations, order changes, and returns and a Covid-19-safe environment this holiday season. These perks are often worth the price due to the continued worries around supply chain and product availability this season.

Notably, consumers surveyed are willing to pay an average premium of 41% for sustainable products, 34% for sustainable air travel, and 37% for sustainable lodging this holiday season.

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