Inflation is now the number one concern, with Pacific Northwest shoppers saying they plan to spend less this holiday season—similar to spending intentions during the height of the COVID-19 pandemic.
In total, 85% of Pacific Northwest residents noted frustrations with the increasing price for goods, while 65% said the unreliability of what’s in stock will have the biggest impact on their holiday shopping.
Among those who plan to decrease their spending, inflation is the number one reason (80%), followed by high gas prices (57%), and the possibility of a recession (47%).
39% plan on spending the similar amount as last year, showing there’s a decrease in consumer demand compared to previous years.
This year, 32% report intentions to spend less, which is a 10 percentage points (PP) increase from 2021;, however, the finding is similar to how Pacific Northwest shoppers responded in 2020 at the height of the pandemic (32%) (2019: 26%).
