Study: Women to watch wallets this holiday season

Women say they will spend less this holiday season, citing concern over their financial situations and the government shutdown, according to a study from Lippe Taylor.

NEW YORK: Female consumers are more concerned than they were last year about their financial situations and are planning on spending less this holiday season, according to a survey from Lippe Taylor.

The Holiday Shopping Index survey, conducted by Lippe Taylor and women's influencer platform SheSpeaks, surveyed more than 3,300 women from November 8 to 12.

Nearly half (48%) of participants, all of whom are at least 18 years old, said they will spend less this year during the holiday season than last year, which is a 30% increase compared with 2012. More than a quarter of the women said they expect to spend less due to the government shutdown.

Forty-three percent of women said they are “very” or “somewhat” concerned about their financial situations, up 19% from last year's results.

Maureen Lippe, CEO of the eponymous agency, said retailers and brands need to have sales or lower prices to attract shoppers this year.

When it comes to brick-and-mortar stores, Lippe added that retailers should have some experiential marketing effort or in-store event to get women to leave their homes and go shopping. She noted that 38% of women plan on using retailer apps to shop and 37% will use online-only retail apps.

Sixty-one percent of people surveyed said they plan on using a shopping app during the holidays, with 41% saying their app of choice will include coupons, such as Retail-Me-Not.

With so many women intending to shop online and on mobile devices, Lippe said companies need to make sure their websites and apps are easy to navigate and prepared for a large number of shoppers.

Also, the same amount of women plan to shop on Black Friday (50%) and Small Business Saturday (33%) as did last year, but only 16% say they will shop on Thanksgiving. Lippe said the low number of potential shoppers may make some retailers question if it is worth opening the store, putting the lights on, and paying staffers on the holiday.  

On social media, 49% of women surveyed said they will use Facebook for holiday shopping ideas, 42% will use Amazon Wish Lists, 36% will use Pinterest, 34% will use Google, and 22% will use Twitter.

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