Deloitte presents its most recent report “Christmas Shopping Study 2024”which points out that consumption during this time comes in a unique and changing context that reflects both the lessons learned in recent years and new emerging trends.
The analysis indicates that technology continues to transform consumer shopping experiences and shows a significant increase in e-commerce and mobile purchasing.
The study shows the current panorama of Christmas shopping and explores the behavior of consumers in Argentina, Colombia, Costa Rica, Mexico and Peru. To develop the report, 1,518 people of different income levels and of legal age in these five Latin American countries were interviewed; It should be noted that the study has gender parity.
Below are the main findings of the “Christmas Shopping Study 2024”.
You can read: The best destinations to spend Christmas in 2024
Consumer perception
In 2024, a third of those surveyed in Colombia, Costa Rica and Mexico consider that the family’s economic situation is a little better than in 2023, while in Argentina it is worse than the previous year and with no signs of improvement. For its part, in Peru the economic situation remained the same as in the previous 12 months.
This year, respondents show a clear willingness to make Christmas purchases. According to the Deloitte study, 66% plan to shop soon, 25% say they will not shop for Christmas, and 9% say they shopped in advance.
Now, why do a quarter say they will not do Christmas shopping? 71% say that for economic reasons, 16% say that they do not celebrate Christmas, 10% indicate other reasons, 2% for travel reasons and 1% do not have anyone to celebrate with.
Consumers will spend the same as in 2023
The Deloitte report reveals that 43% of consumers will spend the same as last year, and this is because this group of buyers affirm that their economic situation is the same as the previous year; 32% will spend less and 25% more.
Those who say they will spend less will do so for four reasons: reducing debt and not spending more (30%), saving instead of spending (29%), concern about the economy (25%) and concern about their current and future employment situation. (16%).
Regarding consumers who will spend more at this time, 27% will do so to renew personal or family items (clothes, toys, etc.), 22% will do so to buy more gifts this year and 17% affirm that they always spend more than expected.
Do you buy in a physical store or online?
As the end of year season progresses, you can see how both purchasing methods coexist and complement each other. Physical stores remain a space where consumers can experience the holiday season in a tangible way, while online stores offer a convenient and efficient alternative.
Consumers have adapted their habits, combining both methods to maximize their shopping experiences and satisfy their individual needs and preferences.
Online stores have gained significant importance in recent years, offering convenience and a wide variety of products just a click away. The ease of purchasing, along with the ability to compare prices and read product reviews, has made more and more people opt for this modality.
Additionally, online shopping allows consumers to avoid crowds and save time, which is especially attractive during the busy holiday season.
The three main reasons that drive consumers to make purchases online and not in a physical store are: discounts and promotions (18%), the comfort of shopping from home (16%) and 24-hour availability (15% ).
Meanwhile, 88% of consumers indicate that they do or will do research on the Internet before doing Christmas shopping. 44% stated that they will do so on e-commerce platforms such as Amazon, Mercado Libre, department stores or supermarkets; 29% indicated that they will investigate the brands’ online stores; 24% on social networks such as Facebook, Instagram, Twitter, Tik Tok or YouTube, and 3% on forums or blogs.
Regarding the devices used to buy or search for product information during the Christmas season, 67% indicate that they do so through a smartphone, 29% through a PC or laptop, and 4% through a tablet.
For their part, 55% of those surveyed affirm that they have purchased online and picked up the product in the store, versus 45% who have not used this hybrid modality. 47% of consumers affirm that they have made this type of purchase two to three times in the last year and 30% indicate that the main reason for choosing this hybrid purchasing method is due to the speed in the purchase and delivery of the product. product.
Meanwhile, social networks do not seem to influence purchasing decisions much, as 44% say they have little influence, 34% say they have a lot of influence, and 22% say they have no influence. However, 37% indicate that social networks are used to obtain gift ideas, 29% to compare prices and 15% to read options or recommendations.
Now, shopping in physical stores continues to be an attractive trend and the three main reasons for doing it this way are: seeing and trying the product (24%), immediate availability of the product (19%) and better visibility of the products ( 17%).
Payment methods
The three main payment methods that buyers use or will use during this Christmas season are: 24% debit cards, 22% cash and 15% bank credit card.
When to shop, how many gifts to give and how much to invest?
The survey shows that the first week of December was the option chosen by the majority of respondents to make purchases. 28% will do it the first week of December, 23% take advantage of the Black Friday offers (also known as Buen Fin), 18% the first fortnight of November or before, 17% the second week of December, the 12 % a week before Christmas, 1% after Christmas and 1% on December 24.
Giving four to five gifts was the option chosen by respondents in Argentina, Colombia, Costa Rica and Peru. While Mexico, with 28% of responses, opted for one to three gifts.
Meanwhile, study participants in Costa Rica, Mexico and Peru confirm that they will spend $16 to $30 on each of the gifts. Meanwhile, in Colombia they chose to allocate from $30 to $100 and in Argentina up to $15.
