Shoppers expect to spend less this year for the holidays

Tuesday, August 25, 2020

A study done by Cheetah Digital found that 56% of people will be spending less this holiday season due to tight budgets. Only 3% plan to spend more. 78% believe that the holiday will be done earlier to allow for delivery times, which could mean shopping in October and November. 66% of people will shop online completely, whereas 50% will buy online and pick up in-store.

To read more, check out this article.

Action items for dealers:

  • Optimize advertising during the holiday season; ensure that your dealership is carefully analyzing the data and receiving the best ROI and to not overspend on advertising when there are not enough leads coming through
  • Digital retailing and delivery options should be available for shoppers