In harmony with other holiday consumer reports, the Amex Trendex shows consumers prepared to embrace the holiday spirit and welcome back traditions.
While 61 percent of the U.S. consumers surveyed said they agree that holiday plans will look different in 2021 and beyond, consumers seem to be embracing new and old ways to celebrate. More than half of consumers (52 percent) said they are excited about creating new holiday traditions this year and 71 percent said they will celebrate the holidays with more family members and loved ones in-person than last year. Only 17 percent said they plan to have a “hybrid holiday” that combines live and virtual gatherings.
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Notably, 61 percent of employed consumers said working remotely will give them flexibility in travel plans to be able to avoid busy travel days this year. Moreover, 57 percent of consumers also indicated working remotely is giving them the flexibility to extend travel and 77 percent of consumers said they would prefer to take a vacation with their significant other rather than exchange gifts.
In anticipation of a more celebratory season, 38 percent of survey respondents said they will spend more on the holidays this year. And nearly half (48 percent) of consumers told the company they have already started holiday shopping — with 45 percent of consumers saying they want to get ahead on shopping due to fear that retailers may face supply chain issues and shortages this year.
For 48 percent of consumers, this early holiday shopping is also extending to the home as they plan to put holiday decorations up earlier this year to feel more cheer. Just over half of consumers agreed they are putting holiday decorations up to make their space feel more festive since they are spending more time at home.
At the same time, 75 percent of consumers also agreed that shopping in-person at small businesses brings them joy and drives excitement for the holidays. Moreover, as 76 percent of U.S. consumers are looking forward to spending time with family and friends this holiday season, 53 percent say this time will include the giving and receiving of gifts.
When shopping for gifts, consumers also indicated to Amex an increase in being more thoughtful about where they are shopping. For 81 percent of respondents, this means prioritizing purchasing gifts that support small or local businesses, while 64 percent said it is important to buy gifts that are sustainable or minimize environmental impact and 63 percent said it is important to buy gifts that are ethically sourced.
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