NEW YORK — Seventy-nine percent of shoppers have left their holiday shopping to the last minute and plan to finish buying gifts for loved ones within two weeks of Christmas. This is according to new research by Klarna, the leading global payments provider and shopping service, which surveyed over 40,000 Klarna shoppers across the US to understand what last-minute Christmas shopping looks like this year.
Findings from Klarna’s survey also revealed that 64% of last-minute shoppers plan to do the last of their Christmas shopping in-store, and that 55% of last-minute shoppers plan to purchase gifts online even if those items won’t be delivered by Christmas Day (December 25).
“Klarna’s Last-Minute Christmas Shopping Survey has uncovered many interesting consumer shopping trends for retailers to consider as we count down to the holidays, including that the majority of US shoppers plan to shop in physical retail stores for last-minute gifts this year,” said David Sykes, Head of US at Klarna. “This is consistent across all age groups, including the digitally-inclined younger generations such as Gen Z and Millennials, and illustrates how valuable the in-store shopping experience is, even in today’s current climate.”
KEY FINDINGS
The majority of consumers are last-minute shoppers: 79% of consumers have left their holiday shopping until the last minute this year, buying gifts for loved ones within two weeks of Christmas. Of these eleventh-hour shoppers, 35% will save the last of their holiday shopping for the week of Christmas.
- The majority of consumers are last-minute shoppers: 79% of consumers have left their holiday shopping until the last minute this year, buying gifts for loved ones within two weeks of Christmas. Of these eleventh-hour shoppers, 35% will save the last of their holiday shopping for the week of Christmas.
- Women (80%) and men (78%) are almost equally likely to be shopping at the last minute this holiday season.
- Delivery deadlines aren’t a deterrent to many online shoppers: 55% of last-minute shoppers will buy gifts online even if they won’t be delivered in time for Christmas. Men (64%) are more likely than women (53%) to do this.
- Last-minute shoppers whose gifts won’t arrive in time for Christmas plan to give their loved ones a print-out photo of the gift (45%) or an IOU note (28%) as a placeholder until the gift arrives.
- Physical retail is critical: With delivery windows closing fast, 64% of last-minute shoppers across all generations plan to do the last of their Christmas shopping in-store.
- Broken down by age group, 67% of Gen Zers, 64% of Millennials, 63% of Gen Xers, 58% of Baby Boomers and 57% of Silent Gen-ers plan to shop in-store at the last minute.
- Curbside pickup options are important to some: 27% of last-minute shoppers will only head to physical stores if there are curbside pickup options available.
- Apparel is the most popular last-minute gift category: Clothing and accessories (78%) are the most popular gifts to shop for at the last minute, followed by electronics (45%), gift cards (44%) and home goods (33%).
- Gift cards emerge as a top gift among last-minute shoppers: Giving gifts that allow the recipient to choose what they want are hot this year, with 44% of last-minute shoppers saying they’ll be giving gift cards or money to their loved ones this holiday season.
- Younger generations are more likely to shop small, independent brands: Only 26% of Silent Gen shoppers and 34% of Baby Boomers said they are shopping small and independent brands this year, versus 45% of Gen Zers and 43% of Millennials.
- The best gifts are sparkly: When asked what they thought was the best gift they’ve ever received, respondents’ top response was jewelry, with over 2,000+ respondents saying that rings were their favorite gift received to date. Other popular responses included gift cards and money, cars, watches, and handbags.
- The strangest gift is one that everybody still needs: When asked what they thought was the strangest gift they’ve ever received, respondents’ top response – noted by more than 3,000 of those surveyed – was socks.
Methodology
Klarna’s survey of 40,448 US Klarna shoppers ages 18+ was fielded December 12- 14, 2020.
About Klarna
We make shopping smooth. With Klarna, consumers can buy now and pay later, so they can get what they need today. Klarna’s offering to consumers and retailers includes payments, social shopping and personal finances. Over 200,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress, have enabled Klarna’s innovative shopping experience online and in-store. Klarna is ranked number five on the 2020 CNBC Disruptor 50 list, is the most highly valued fintech in Europe with a valuation of $10.65 billion, and is one of the largest private fintechs globally. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. For more information, visit klarna.com.
Source: Klarna