How COVID-19 is changing holiday shopping: 1 in 3 to forego gifts in 2020

Regional News

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WATERTOWN, N.Y. (WWTI) — The coronavirus pandemic is altering life as we know it and holiday shopping is not being left out.

A recent survey from WalletHub determined current trends and opinions of Americans as they prepare for holiday shopping in 2020. Results from the survey concluded what individuals would pay extra for, online shopping rates and those forgoing the shopping season altogether.

As the pandemic has stressed many financially, the survey concluded that nearly one in three individuals will forego holidays gifts completely in 2020 due to COVID-19. Almost 102 million consumers plant to spend less on the holidays in 2020 compare to 2019.

The Holiday survey also found that Americans would pay more money for a coronavirus vaccine, peace and quiet and friendly customer service.

Additional findings from the Coronavirus and Holiday Shopping Survey include:

  • 45% of people will start shopping earlier this year
  • 77% will do more holiday shopping online
  • 23% of people will give a mask as a holiday gift
  • 60% will pay for their holiday purchase in full by the due date
  • 41 million Americans still have credit card debt from last holiday season

WalletHub also determined the best gift cards of 2020, including Starbucks at the top, Target as the second and Fandango as the third. The predicted most popular gift cards include Amazon, Visa, Walmart and Target.

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