- Shoppers are “self-gifting” this holiday season.
- The behavior stems from high consumer confidence and the fact that shoppers are often waiting until the holidays to get a deal.
- This is good new for retailers.
It’s better to give than receive, but what if you’re doing both?
Shoppers are “self-gifting” more this year, according to an analyst group that spoke with CNBC. That means that as shoppers go about their holiday gift-buying duties, they’re also buying a few not-so-little things for themselves.
A study from NPD Group shows that more people plan to buy more for themselves this holiday. Nineteen percent of responders said they would “definitely” spend more on themselves, while 40% said they might.
This reflects high consumer confidence – people have money, and it’s burning a hole in their pockets.
Self-gifting has been on the rise for a while, often growing year-over-year, but it's harder to measure than overall spending.
Many customers wait until the holidays to buy for themselves the thing they've had their eye on all year. There are also a lot more advertised sales during the holidays, which can influence shoppers to pull the trigger.
Self-gifting can be treated as a test of consumer confidence, as it's an additional, optional form of spending. Usually, self-gifts include things like electronics, cookware, and certain apparel, like sweaters and boots.
Self-gifting is the impetus behind newer shopping holidays like Prime Day and China's Singles' Day. It's also a big reason consumer spending keeps setting records, especially online.
