2022 DELOITTE HOLIDAY SURVEY has been saved
2022 Deloitte holiday survey
25%
Increase in low-income spending, from $536 in 2021 to $671 in 2022
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3
Inflation shrinks the shopping window
With 73% expecting higher prices this holiday shopping season, consumers plan to pull back on the number of gifts purchased to stretch their finances and outsmart inflation. As a result, shoppers expect to visit fewer instore and online retailers, shrinking the shopping window to 5.8 weeks vs. 6.4 weeks in 2021.
9
Average number of gifts and gift cards likely to be purchased, vs. 16 in 2021
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4
Shoppers off to an early start
After two years of dealing with rising prices, stockouts, and extended delivery times, shoppers are not taking any chances this holiday season. As a result, 38% plan to start their shopping earlier, pulling more of their budget into October and spending an average of $329 vs. $266 in 2021.
23%
of shoppers’ budgets will be spent by the end of October
Retail key findings
2022 Deloitte holiday retail survey
Finances are in a precarious position as we head into the holidays—37% of American households say their
financial situation is worse than last year. But there are bright spots this
season despite economic pressures. Holiday spirit (and spending) is alive and well as shoppers adjust their
spending strategies in response to inflation.
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1
Consumers make celebrating a priority
Household finances may be at the weakest level in a decade, but spending stays steady as consumers cut non-essentials to give gifts and socialize.
2
Low-income regaining holiday cheer
After pulling back last year, low-income shoppers are feeling more confident and plan to spend 25% more this year.
3
Inflation shrinks the shopping window
Given the economic environment, consumers plan to buy fewer gifts, reducing the shopping duration to 5.8 weeks vs. 6.4 weeks.
4
Shoppers off to an early start
Inflation and stockout concerns prompt shoppers to get a jump on the holiday shopping season—23% of budgets will likely be spent by the end of October.
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1
Concerns about money and disruption curb travel
Holiday travel intent dips, especially for leisure trips involving paid lodging. The decline in travel intent is mostly attributable to fewer Americans taking leisure vacations, while the number planning to visit friends and relatives is similar to 2021. Financial considerations are this season’s biggest drag on travel demand, and one in five Americans staying home cite worries about travel disruption.
31%
Percentage of Americans who plan to travel this holiday season
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2
From a busy start to a strong long-tail finish
Fifteen percent of all Americans plan to travel Thanksgiving weekend, and 14% plan to travel between Christmas and New Year’s. Thanksgiving will be the busiest time, but eight in 10 trips will be a week or shorter. And although only 10% of holiday trips are planned for early January, nearly half of those will be longer than a week.
2
Average number of trips Americans plan to take this holiday season
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3
Demand dips across most travel products
With fewer Americans traveling, demand will be weaker across most travel segments, but hotels can expect a bigger hit than airlines. Thirty-five percent of travelers plan to stay in hotels (vs. 37% in 2021), while 15% plan to stay in rentals (vs. 17% in 2021). Participation in in-destination experiences is also expected to drop, with fewer travelers planning to partake across most paid activities this year.
35%
Percentage of Americans who plan to stay in hotels when they travel
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Download the travel survey findings
4
Many older Americans will sit this one out … again
Older Americans, who had been showing more enthusiasm for travel after a prolonged pandemic-driven hesitance, are once again shying away. Only 22% of Americans age 55 and older plan to travel, down from 36% in 2021. Financial worries are the top travel deterrent across age groups, but the oldest are most likely to cite potential delays and cancellations as a reason to stay home.
22%
Percentage of Americans 55 and older who plan to travel
Travel key findings
2022 Deloitte holiday travel survey
After climbing upward for a year and a half, Americans’ enthusiasm for travel appears dampened this
holiday season. Pandemic concerns are fading, but financial woes and flight
cancellations have more deciding to stay home. As travelers reconnect with family and friends,
airlines and hotels should look to reestablish trust and high service standards.
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1
Concerns about money and disruption curb travel
Financial considerations are this season’s biggest drag on travel demand, and one in five Americans staying home cite worries about travel disruption.
2
From a busy start to a strong long-tail finish
Once again, the busiest days will likely come at the start of the holiday travel season, as 15% of Americans plan to travel Thanksgiving weekend.
3
Demand dips across most travel products
With fewer Americans traveling, demand will be weaker across most travel segments, but hotels can expect a bigger hit than airlines.
4
Many older Americans will sit this one out … again
Older Americans are more likely to cite potential travel disruption and health as reasons to avoid travel.
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Meet the contributors to the Deloitte Consumer Insights 2022. For more insights, visit the Consumer Industry Center and read more on the automotive, consumer products, retail, transportation, hospitality, and services sectors.
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