We’ve all struggled with choosing the perfect gift for each person on our holiday shopping lists, but what about picking a gift for the person we know best….ourselves! According to an industry survey, the number of shoppers who plan to indulge in a little something extra for themselves this year is up to more than 57 percent. This is quite an increase after the worst years of the nation’s economic downturn. Consumer confidence has risen as a result of the economy having picked up somewhat. This year, both the number of female shoppers who plan to buy for themselves and the amount they plan to spend has gone up. Among the 57 percent of self-shoppers, the projected average amount to be spent is approximately $110.
Experts believe that the most commonly self-gifted items are jewelry, apparel and consumer electronics. Retailers in these industries as well as others have a valuable opportunity that shouldn’t be overlooked. Self-gifting can prove to be very lucrative for stores because it usually goes hand in hand with shopping for others, so the sales being made are doubled. For every item bought for one’s self, another item gets added to the pile as well. Partly, we feel we deserve to be treated and also because we are already shopping for the ones on our lists, so why not throw in a little something for ourselves? Even women who rarely buy anything but necessities throughout the year are more likely to splurge on something a little extravagant at year’s end.
One of the ways that businesses are capitalizing on this trend is in the area of gift cards. Many retail stores as well as restaurants currently offer deals such as “Spend $100 on gift cards, Get an extra $20 gift card for free.” The extra card can either be used as part of the gift or kept by the person doing the gifting. Another smart move by retailers is offering “Buy One, Get One Half Off” deals. Shoppers are more likely to buy something for themselves if they can use the second item to check off another person from their gift list at the same time.
The bottom line is more women are buying themselves gifts while they do their holiday shopping and retailers should definitely take advantage of the possibilities this presents. If your business is looking to reach a greater portion of female consumers, whether during the holidays or all year long, look no further than FletcherPR to meet your marketing and public relations needs.