Economy
07 December 2022
Survey: 2/3 of consumers plan to spend under $500 on holidays
Jungle Scout's Q4 consumer trends report says discounts and digital are topping the season's lists.

Jungle Scout's Q4 consumer trends report says discounts and digital are topping the season's lists.
Discounts and social media are expected to be primary motivators for consumer behavior throughout the rest of the holiday season and into the beginning of 2023, according to a new report.
The Q4 Consumer Trends Report from ecommerce seller platform Jungle Scout shared insights from more than 1,000 consumers. Here are a few takeaways:
Inflation may have started to cool over the last month, but prices still remain elevated across numerous consumer categories, with essentials like gas, food and rent being particularly high. Meanwhile, 60% of consumers are noticing higher prices in their everyday shopping on items such as cleaning supplies, clothing and beauty products.
That’s putting pressure on consumers to save elsewhere, and it’s showing up in purchase intent for the holiday season.
The survey found the following:
Consumers are expecting to spend nearly 40% less on holiday-related expenses this year, when compared to the 10-year national average, according to the National Retail Federation, while Jungle Scout found that 67% of consumers are planning to spend under $500.
At the same time, 33% of consumers are planning to cut back on their expenses for the holiday season, with the top ways being buying fewer gifts and decorations.
As they shop, more than 58% of consumers are searching for deals and discounts as they shop.
Holiday shopping is increasingly an online practice, and that means people are discovering what they want to buy through digital channels, as well.
As they scroll, 20% of U.S. consumers get holiday gift ideas from social media. Facebook leads as a source of inspiration, followed by Instagram and TikTok.
People are also ranking virtual gifts like streaming and music subscriptions among the most popular gifts of 2022.
Heading into 2023, people will still view financial security as a top priority, as 79% of consumers said they plan to re-evaluate finances while facing worries about inflation, gas prices and interest rates. Nearly equally, 89% of consumers believe the U.S. is headed for a recession, or already in one. The latter measure has ticked up from 76% in Q3.
But this doesn’t mean they are completely sitting on the sidelines of life. The survey found that people will also be looking to spend on experiences and themselves, albeit in a way that is fiscally prudent.
Jungle Scout found that 54% of consumers are making travel plans for 2023, which is up 16% from last year as pandemic restrictions move further into the rearview. Plus, dining out and getting manicures still rank among non-negotiable expenses.
In the end, 2023 is set to bring more change to consumer behavior, extending this period of upheaval well beyond the peak of the pandemic.
"Consumer expectations and priorities will shift in 2023, as inflation continues to impact spending," says Michael Scheschuk, president of small & medium business at Jungle Scout, in a statement. "As ecommerce advances, consumers will seek personalization at every stage of the customer journey. Brands should diversify sales channels and consider expanding into social commerce through popular platforms like TikTok, allowing them to engage with new audiences in more authentic and memorable ways."
On the Move has the latest hiring update from The Vitamin Shoppe and At Home.
Heidi O’Neill has a new role at Nike. (Courtesy photo)
This week, Unilever, Nike and BigCommerce are seeing major transitions in the executive ranks. Meanwhile, The Vitamin Shoppe named a permanent CEO, and At Home brought on a longtime Walmart executive as president.
Conny Braams. (Courtesy photo)
Consumer goods giant Unilever announced key changes in top leadership roles. These include:
Graeme Pitkethly will retire as chief financial officer, effective at the end of May 2024. The board is set to launch a formal search for his successor. Pitkethly has been with Unilever for 21 years.
Conny Braams, who serves as chief digital and commercial officer, will leave the company, effective August 2023. Braams previously held senior management roles including Executive Vice President (EVP) of Middle Europe; and EVP Foodsolutions Asia, Africa and Middle East.
Craig Williams. (Courtesy photo)
Nike, Inc. announced several key leadership changes focused on consumer-led growth and marketplace. They are as follows:
Heidi O’Neill who is currently president of consumer and marketplace, will become president of consumer, product and brand.
Craig Williams, who is currently president of the Jordan Brand, will become president of geographies and marketplace at Nike, Inc.
Matthew Friend, EVP and Chief Financial Officer at NIKE, Inc., will expand responsibilities to include procurement, global places and services and demand and supply management.
Jared Carver will serve as CEO of Converse. Over the last four years, he served as VP/GM of North America for Converse.
Scott Uzzell, the previous CEO of Converse, transitioned to a new role as VP/GM, North America for Nike, Inc.
“These shifts will allow us to streamline our focus across product, brand storytelling and marketplace, mining deep consumer insights to deliver breakthrough innovation and engagement, while building long-term growth and profitability,” said Nike CEO John Donahoe, in a statement.
Lee Wright. (Courtesy photo)
Lee A. Wright was named CEO of The Vitamin Shoppe on a permanent basis, after serving as interim CEO since January 2023. Wright previously served as Chief Commercial Officer of Franchise Group and in executive roles at Conn’s.
Muriel Gonzalez was promoted to president of the retailer, after serving as EVP and chief merchandising and marketing officer of The Vitamin Shoppe since August 2020.
BigCommerce announced the following leadership roles:
Daniel Lentz was promoted to chief financial officer of BigCommerce, effective July 1. He previously served as SVP of finance and investor relations. Lentz will succeed CFO Robert Alvarez, who is retiring after a 12-year stint as CFO.
Chuck Cassidy was promoted to general counsel, effective June 2. Cassidy previously served as VP and associate general counsel. He will succeed Jeff Mengoli, who is retiring.
Hubert Ban was named chief accounting officer. He will replace Vice President of Accounting and Principal Accounting Officer Thomas Aylor, who departed the ecommerce platform on May 19.
Jeff Evans. (Courtesy photo)
Jeff Evans was named president and chief merchandising officer of At Home, the home goods retailer.
Evans previously served as EVP of entertainment, toys and seasonal at Walmart, managing the largest general merchandise business for the retailer. He rose to the position after serving in executive roles at Walmart US and Sam’s Club.