Emotions to drive 2021 holiday budgets

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 21, 2021, 12:38 PM UTC

A Quantum Metric study found that 47% US adults would spend more in this holiday season than pre-pandemic.

Having not been able to celebrate the holiday season together with loved ones in 2020, US adults are 56% more likely to see this year’s holidays as important or meaningful. Their likelihood of being more emotionally invested in 2021 holidays than last year is higher as well.

As a result, 62% of Americans would surpass their pre-pandemic holiday spending. With the majority of consumers seeking gifts that represent a personal connection with the recipient, the emotional spending is expected to drive up consumers’ budgets. 30% of respondents would spend up to $1000 this holiday season.

Shopper’s approach towards the season would be informal. They could shop while engaged with other activities like watching TV. 62% of Americans plan to shop online primarily.

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