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Ten Ways to Spot a Layaway Shopper this Holiday Season


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Ten Ways to Spot a Layaway Shopper this Holiday Season

  1. 1. Special Report:Ten Ways to Spot a Layaway Shopper this Holiday Season November 20129,383 respondents participated in the November Monthly Consumer Survey, conducted 11/-11/6/2012. BIGinsight™ 400 W. Wilson Bridge Rd. Suite 200 Worthington, OH 43085 Ph: 614-846-0146
  2. 2. Layaway shoppers wouldn’t place in a Santa look-a-like contest. Demographics of Holiday Shoppers Holiday Shoppers Layaway Holiday Overall Shoppers Average Age: 45.3 38.7 Children in Household: 33.6% 58.6% Grandparents: 29.3% 24.4% Retired: 17.9% 5.8% Average Income: $56,336 $49,076 Layaway Shoppers are significantly younger than all Holiday Shoppers, and they are less likely to be grandparents or consider themselves retired. Over half have children under 18 in their household, so they may be playing Santa this year. Source:© 2012, Prosper®
  3. 3. Despite tighter budgets, layaway-ers intend to spend more this holiday season.Regarding the upcoming holiday shopping season (Christmas, Chanukah/Hanukkah, or Kwanzaa) doyou intend on spending more, the same or less than you did last year? Overall Holiday Shoppers Holiday Layaway Shoppers 21.0% 19.4% 26.1% More 41.6% Same Less 39.0% 52.9% 2 out of 5 Holiday Layaway Shoppers intend to spend more this holiday season vs. last year’s, compared to just 1 in 5 of Holiday Shoppers overall. Source: National Retail Federation/© 2012, Prosper®
  4. 4. Layaway shoppers have a holly jolly outlook for the economy… Economic and Employment Outlook While Holiday Holiday Holiday Layaway Shoppers Layaway Shoppers are Overall Shoppers more confident in Confident/Very confident in the economy than 40.4% 54.7% Holiday Shoppers economy overall, their Expect "more" layoffs in next 6 outlook on the 22.0% 32.7% months employment environment is Concerned with being laid off 3.5% 5.1% less jolly. Source:© 2012, Prosper®
  5. 5. …Yet remain conservative with their everyday finances. Which of the following financial steps are you planning to take in the next 3 months? (Check all that apply) Holiday Layaway Shoppers are more Pay down debt likely than Holiday Shoppers overall to be Decrease overall spending planning to pay down debt, decrease Increase savings spending and increase savings. Nearly 3 in 10 Pay with cash more often (28.6%) admit they plan Buy Stocks to pay with cash more often, compared to Refinance home 18.4% of all Holiday Shoppers. Sell Stocks 0% 10% 20% 30% 40% Holiday Shoppers Overall Holiday Layaway Shoppers Source: Source:© 2012, Prosper®
  6. 6. Cold hard cash is key with layaway shoppers.Which payment method do you plan to use MOST OFTEN when purchasing holiday gifts? Holiday Shoppers Overall Holiday Layaway Shoppers Cash 25.2% 11.0% 28.6% 35.5% Check 2.8% Debit card/Check 49.9% 3.5% 43.4% card Credit card Although debit cards are the most popular method of payment for Holiday Shoppers, those utilizing layaway are more likely to prefer cash and much less likely to prefer credit cards for purchasing gifts this year. Source: National Retail Federation/© 2012, Prosper®
  7. 7. These early birds are getting the worms… 69.1% Started holiday shopping already 58.9% Take advantage of pre-Thanksgiving sales 88.3% Layaway is deciding factor for where to shop 43.2% 44.5% Regularly consider store’s return policy “First-timers” Over two-thirds of layaway shoppers have already started holiday shopping, vs. 52.8% of Holiday Shoppers overall. Shoppers with installment plans are also more likely to take advantage of pre- Thanksgiving sales (58.9% vs. 31.6%). Source: National Retail Federation/© 2012, Prosper®
  8. 8. …But still plan to bargain-hunt with the best of ‘em on Black Friday. Holiday Shoppers Holiday Layaway Overall Shoppers Is it likely that you will go shopping the Friday, Saturday, or Sunday after Thanksgiving? Yes 31.6% 56.3% Maybe 33.7% 32.5% No 34.7% 11.2% Please tell us whether you think the following trends/personalities are HOT or NOT: (Black Friday) Hot 68.1% 78.3% Holiday Layaway Shoppers are also more likely to scope out deals on Black Friday weekend and find this shopping craze “Hot”. Source: National Retail Federation/© 2012, Prosper®
  9. 9. Layaway shoppers use their connections to find best deals. Do you plan to use any of the following to keep track of retailers holiday sales and promotions this year? Holiday Layaway Shoppers are more likely Advertising Circulars than Holiday Shoppers TV Advertising overall to use a variety of Emails from Retailers tools to search for the best Retailers Websites sales, including advertising Coupon Websites circulars, TV advertising, Facebook emails and websites from Direct Mail retailers, and coupon sites. Group Buying Websites 3 in 10 Holiday Layaway Radio Advertising Shoppers (30.5%) also Blogs plan to use Facebook to Retailer Apps keep track of holiday Twitter sales. 0% 10% 20% 30% 40% 50% 60% Holiday Shoppers Overall Holiday Shoppers Planning to Use/Using Layaway Source: National Retail Federation/ Source: National Retail Federation/© 2012, Prosper®
  10. 10. While they embrace their inner fashionistas, it’s electronics and toys that are bound for the layaway bins. Do you plan to or have you already put holiday gifts in Layaway for any of the Over half (57.5%) of following merchandise categories? Holiday Shoppers Planning to Use/Already Using Layaway for Gifts those holiday shoppers who are Electronics planning to use Toys layaway or already Apparel have will utilize this Jewelry shopping strategy for Furniture electronic gifts. Another 41.2% plan Home Décor to hold now/pay later Baby Equipment for toys along with Linens or Bedding 36.4% who will do the Lawn & Garden same with apparel 0% 10% 20% 30% 40% 50% 60% items. Source: Source:© 2012, Prosper®
  11. 11. Discounters are most likely to get those layaway dollars. In which of the following stores do you plan to use or have you already used Layaway for holiday shopping? (Check all that apply)2 in 3 (65.5%) of Holiday Shoppers Planning to Use/Already Using Layaway for GiftsHoliday LayawayShoppers are Walmartplanning to useWalmart’s layaway Kmartprogram, while Toys R Us42.2% will head toKmart. Toys R Us Sears(21.2%) rounds outthe Top 3 layaway Burlington Coat Factoryretailers this holiday Marshallsseason. TJ Maxx Hallmark 0% 10% 20% 30% 40% 50% 60% 70% Source: Source:© 2012, Prosper®
  12. 12. For more insights on the holiday season… Forbes Prosper NRF Holiday Now Blog Headquarters
  13. 13. Contact For media inquiries: Pam Goodfellow, Consumer Insights Director Chrissy Wissinger, Senior Manager, Communications 614-846-0146 Disclaimer BIGinsight™ is a trademark of Prosper Business Development Corp. Services are delivered by Prosper and/or a Prosper affiliated company (“Prosper”). Prosper makes no warranties, either expressed or implied, concerning: data gathered or obtained from any source; the present or future methodology employed in producing statistics; or the data and estimates represent only the opinion of Prosper and reliance thereon and use thereof shall be at the user’s own risk.© 2012, Prosper®