We as a culture love giving (and receiving!) gifts during the holidays, and as experienced gift-getters, we usually have a sense of what type of present awaits under that wrapping paper based on who gave it to us. This one from grandma? Probably a sweater. From crazy Uncle Dave? Maybe a flying drone. From your nephew who’s in college? OK, well that one’s tough to guess.
But that insight also indicates a greater truth: different generations buy differently, and they also shop differently—and marketers and communicators need to be aware of the differences, especially during the critical holiday-shopping season. New research from community-focused coupon tool SimplyCodes provides an in-depth analysis of how different generations plan to research, evaluate purchases, and spend this holiday season based on a survey of over 2,200 Americans.
Key findings from the firm’s report, Gen Z Defies Inflation with Projected Holiday Shopping Spree, indicate that over 36 percent of shoppers intend to spend more this year, with Gen Z leading spending growth. Online coupons will also play a heightened strategic role across generations.
“Our data quantifies clear attitudinal and behavioral divides between Baby Boomers, Gen X, Millennials, and Gen Z,” said Michael Quoc, Founder & CEO of Demand.io, the tech accelerator behind SimplyCodes. “With strategic insights from this report, both shoppers and businesses can make savvy decisions reflecting 2023 economic motivations and values.”
Other findings include:
- Gen Z stands out as the biggest spending cohort, with over half expecting to spend more compared to 2022. Their holiday outlook defies frugal stereotypes.
- Online coupons will play a heightened strategic role across generations, with at least 50 percent of each group reporting increased usage, especially Gen X.
- Lowest price remains the deciding purchase factor for a majority of shoppers, though Gen Z uniquely prioritizes shipping speed second.