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Over 70% of shoppers consider holiday financing as inflation bites

3 Minute Read

Example email with financing offer

Industry DiveContributor

  • More than three-fourths (77%) of respondents to an Oracle Retail consumer research study of 8,107 international shoppers said they are planning to shop or have already shopped early for the holidays. Nearly 60% said the current economic uncertainty has prompted them to spend less.
  • Per the survey, 71% of respondents said they would consider a store payment plan or financing option to cover the cost of their purchases. A quarter of respondents said they had never used financing options before.
  • Nearly two-thirds (62%) of respondents said they were willing to pay more for faster or guaranteed deliveries. Less than half (47%) of shoppers said that the speed of delivery can influence where they order gifts from.

As other reports have pointed out, consumers are looking for the best price this holiday season. Oracle found that 47% of respondents are looking at prices to comparison-shop between retailers. 

Consumers are bracing for inflation to drive up prices, which could be why they are on the hunt for bargains. A 4Over survey released in August found that 73% of respondents expected price increases during the 2022 holiday season. Meanwhile, 43% of respondents to an ICSC survey said they are looking for deals and promotions, and 48% said they are shopping earlier to get the items they need.

“Next to inventory availability, price is the leading factor in how and where consumers will shop this holiday season,” Mike Webster, senior vice president and general manager of Oracle Retail, said in a statement. “For retailers still dealing with the constant loop of limited inventory supplies or surpluses, getting merchandise and pricing strategies right will be make or break when it comes to managing margins and customer expectations.”

Among the top items Oracle respondents said they are planning to purchase this holiday season are experiences for friends and family (34%), fashion and apparel (30%), gift cards (29%), beauty and personal care products (29%) and footwear (28%). 

A fifth of Oracle Retail respondents said they plan to buy non-fungible tokens (NFTs) or digital collectibles as gifts. However, according to a Bloomberg report citing Dune Analytics data, the trading volume for digital art and collectibles has sharply dropped 97% from $17 billion in January to $466 million in September.

Oracle’s research also points to an uptick in in-store shopping this holiday season. Per the survey results, 43% of consumers plan to shop mostly in stores, but 23% are shopping in-store and online. A JLL survey released earlier this month found that less than two-thirds of shoppers are spending their holiday budgets in stores, a slight increase from 58% in 2021.


This article was written by Tatiana Walk Morris from Retail Dive and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to legal@industrydive.com.