Despite continued inflation and the potential of a recession, 67% of Americans plan to spend either the same or more in 2023 as they did in 2022 “on retail purchases” according to a new survey commissioned by DailyPay and Dollar Tree and conducted online by The Harris Poll among over 2,000 U.S. adults.
However, 44% are more likely “to prioritize shopping for bargains in-store this year compared to last.”
Signaling a continued increase in in-person shopping, “about 3 out 4 Americans (73%) plan on shopping the same or more in-store in 2023 versus last year.” The survey also reveals Americans’ preferences “regarding purchasing particular items in-store versus online.”
- 81% in-store for furniture
- 69% in-store for home goods
- 65% in-store for apparel
- 65% in-store for sporting goods
- 59% in-store for electronics
Kate Cheesman, Vice President of Customer Success, DailyPay, said:
“It’s encouraging to see that Americans’ spending plans are trending upward with only a third planning to spend less this year despite these times of financial uncertainty. With more people shopping in-store, retailers will be prioritizing retaining their top talent to maximize their in-store experience.”
Dollar Tree, which operates more than 16,000 stores across the Family Dollar and Dollar Tree banners, are “seeing similar trends to those revealed in the survey.””
Mike Creedon, Chief Operating Officer at Dollar Tree, stated:
“Our customers are incredibly savvy and taking advantage of our value-price model to stretch their money even further during these uncertain economic times. While discretionary purchases remained strong, we’re also seeing an increase in consumables in Dollar Tree and Family Dollar stores.”
Survey Methodology:
This survey was “conducted online within the United States by The Harris Poll from January 4-6, 2023 among 2,032 U.S. adults ages 18 and older.”
The sampling precision of Harris online polls is “measured by using a Bayesian credible interval.”
For this study, the sample data is “accurate to within +/- 2.8 percentage points using a 95% confidence level.”