The holiday season is just around the corner, but consumer holiday spirit has hit a low point. With good reason: while the holidays are a great opportunity to spend time with loved ones, for many they bring financial strain.
According to a Dentsu report, 86% of consumers say they are concerned about higher prices as they approach this holiday shopping season, up from 75% last year. And 53% of shoppers expect inflation to impact their holiday celebrations, per Aki Technologies, the media division of Inmar Intelligence.
Budgets are tightening across the board. There are also larger spending trends to consider, like buyers prioritizing experiences over material goods. So how can brands continue to attract consumers?