Valpak Releases Semi-Annual Consumer Savings Report
Survey takes a look at how consumers spend on gifts, entertainment and travel over the holidays
LARGO, Fla., Nov. 11, 2010 // PRNewswire // -- With holiday decorations popping up on every corner, visions of sugarplum deals may be dancing in the heads of shoppers. According to the Valpak Semi-Annual Consumer Savings Report*, 75 percent of shoppers plan to spend the same or more on holiday purchases, yet nearly one fourth (22 percent) will spend less than 2009. While holiday budgets this year will vary, shoppers likely have one thing in common: more than half typically use coupons on holiday-related purchases, including gifts, entertainment and travel. The survey that talked to 1,000 households in the U.S. and Canada also found:
- One out of eight shoppers (12 percent) will spend more than 2009.
- A majority of households (63 percent) expect to mimic last year's December holiday spending.
- 59 percent of consumers will spend more than $500.
- Less than 25 percent plan to spend more than $2,000.
- 69 percent of households with children at home plan to spend more than $500.
- Only 25 percent of households with children plan to spend less than last year.
Cautiously Optimistic Shopping Habits
"It's the season of giving, but many of us are looking for ways to make the most of the holidays and our budget. Coupons have become a key part of life and that mindset will continue through the New Year," said Deanna Willsey, director of corporate communications for Valpak. "Consumers are following a path of steady savings and no one is planning on diverting any time soon."
Regardless of the household budget for gifts and gatherings, shoppers told Valpak that 52 percent typically shop with coupon to get the most out of their holiday budget. From garland to turkeys to presents under the tree, the survey also revealed how shoppers usually use coupons during the holidays to save money. According to the survey:
- 70 percent of couponers clip, print and save those deals for holiday toys, games and electronics.
- Nearly 60 percent typically shop with coupons to cut holiday hosting and entertaining costs on food, catering, and groceries.
- 48 percent use coupons entertainment expenditures.
- Less than 25 percent use coupons for jewelry, personal care, home furnishings and flowers.
Top Purchase Intentions
Approximately 50 percent of respondents don't plan to travel this holiday season and another 20 percent remain undecided, however travel remains the most likely big ticket purchase by households between October and March. Other top categories for consumer purchase intentions before March include products and services for the home in preparation for the long winter ahead: interior and home improvement purchases at 29 percent and new television or accessory purchases at 28 percent. In comparison to the company's May survey, these purchase intentions remain largely unchanged, even as we approach the holiday season:
- Travel or vacation: 61 percent versus 65 percent earlier this year
- Interior home improvement: 29 percent up slightly from 24 percent
- TV/home electronics: 28 percent up from 22 percent
- Auto: 22 percent down slightly from 24 percent
- Exterior home improvement: 22 percent, the same as six months ago
* Valpak's Consumer Savings Report surveyed 1,000 consumers in Valpak serviceable ZIP codes (36 percent of U.S. households) and was conducted by Research Now. Results are within +/- 3.1 percentage points at the 95 percent confidence level. Survey was conducted September 2010 and compared to the same survey in May 2010.
Valpak, one of the leading direct marketing companies in North America, is owned and operated by Cox Target Media, a subsidiary of Atlanta-based Cox Media Group and Cox Enterprises, one of the largest media conglomerates in the United States. With nearly 200 franchises throughout the United States and Canada, The Blue Envelope® delivers savings and value to nearly 40 million households each month. Annually, Valpak will distribute some 20 billion offers. Each year, more than 54,000 businesses choose Valpak for their advertising needs. Valpak also offers digital solutions with www.Valpak.com®, an online site for local savings, which has nearly 40 million offer views each month, as well as mobile phones, including apps for iPhone™, iPod touch®, Android™, Palm® Pre™ and BlackBerry® platforms. For more information, please contact 1-800-676-6878.
Cox Media Group
Cox Media Group, Inc., a subsidiary of Atlanta-based Cox Enterprises, is an integrated broadcasting, publishing and digital media company that includes the national advertising rep firms of Cox Reps. With revenues exceeding $1.5 billion, the company operations include 15 broadcast television stations and one local cable channel, 86 radio stations, four metro newspapers and more than a dozen non-daily publications, and more than 100 digital services. Additionally, CMG owns and operates Valpak, one of the leading direct marketing companies in North America.