Results: 2008 African American Holiday Shopping and Gift Giving Trends

BuzzologySurveys recently conducted a survey to gauge the seasonal shopping and gift giving preferences of African American consumers.

With recession woes on the top of many minds, African American shoppers are very concerned about the economy but still out in force this holiday season. Black consumers are decreasing their spending this year, with 56.7% of respondents cutting back on purchases due to the country’s dampening financial outlook.

Sixty three percent of those surveyed expect to spend up to $500 on gifts this holiday, with immediate family members (72.4%) and children (69%) being the most popular receivers of presents under the Christmas tree. “Must have” purchases include books, mobile phones, apparel/shoes, gift cards, online/video games and electronics respectively; toys, fragrances/beauty items, and jewelry were also selected as popular choices of African American shoppers.

More than thirty two percent plan to do at least a quarter of their shopping online, with Amazon.com being named the favorite website for purchases; while 25.8% indicate none of their shopping will be done online this year. Macy's and Best Buy tied as the most popular brick-and-mortar retailer by Black Consumers; Walmart was also mentioned as a leading destination.

Using debit cards is the favored method of payment for African American shoppers this season (52.4%), with credit cards (47.4%) and cash (41.7%) rounding out the top three.

Black consumers are reacting to the news about the economic downturn and making smart decisions about how much they spend this holiday season. One takeaway? African American shoppers should curtail the use of credit cards when buying gifts, which was noted as the 2nd leading avenue for paying for purchases. The "buy-now, pay-later" philosophy could encourage us to spend more than we initially budgeted, and interest and other fees can lead us into deeper debt at a time when we could be making more strategic financial decisions.

To request more information on this survey, please contact us at info@buzzologysurveys.com.