Unwrapping the Holidays with Circana’s Tech Experts
Despite increasing financial concerns, 58% of holiday shoppers in the U.S. plan to spend as much as last year, according to our 2023 Holiday Purchase Intentions Report. With the holidays in full swing, take a closer look at this season’s expectations from our team of retail and technology experts:
Marshal Cohen
Chief Retail Industry Advisor
“The consumer is softly thinking about spending less this holiday season.
Consumers know they will need to spend more to get what they want and are prepared to do so. But they are also cautious about spending too much and will need to continue to prioritize their purchases through the holidays.”
“TVs are at the forefront of holiday season promotions every year, but there has been a distinct shift to more affordable products in the U.S.
TVs have outperformed most tech products in unit growth in 2023 because of falling prices, and consumers tend to splurge on bigger screen sizes during the holiday season. Big screens at low prices will be key to success this season.”
Paul Gagnon
Industry Advisor, U.S. Consumer Technology
Ben Arnold
Industry Analyst, U.S. Consumer Technology
“Virtual reality will provide a boost to consumer electronics sales this holiday season as new headsets and accessories reach retail shelves.
I expect sales in this category to double this year and drive more consumer spending back into technology.”
“Consumers in the U.S. continue to cautiously spend on PCs this holiday season, prioritizing best value versus lowest cost.
Promotional activity is expected to increase in depth and breadth as retailers try to entice reluctant consumers to purchase before year-end.”
Mike Crosby
Industry Advisor, U.S. B2B and B2C Technology
Brad Akyuz
Industry Analyst, U.S. Connected Intelligence®
“Despite the low appetite for new smartphone purchases during the holiday season, U.S. mobile carriers’ attractive trade-in deals on new flagships will fuel robust demand through the end of the year.”
“In Canada, competitive promotional activity early on in the season increased revenue and units in total technology but did not offset the month overall.
I expect the next few weeks in the holiday season to become more important for pricing and promotional plans.”
Dave Adamchick
Industry Analyst, Canada Consumer Technology
Jaime Negrete
Industry Analyst, Mexico Consumer Technology
“In Mexico, e-commerce is demonstrating resilience – growing at a time when brick-and-mortar sales in tech are declining.
TVs, stereo headphones, and notebook PCs are the categories driving online sales growth. Understanding how and where consumers shop is important this holiday season as consumer behavior continues to evolve.”
It’s critical to get the most complete view of holiday trends in the markets that matter most so you can adjust your strategies in real time. See how our unparalleled technology and deep industry expertise can unlock growth for your business.
Ready to learn more? Contact your Circana account representative or email contactus@circana.com.
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