The 2023 holiday season is set to be merry indeed. Despite inflationary pressures and uncertainty in the economy, consumers are still eager to shop. Data from Square and Afterpay found that 34% of consumers are planning to spend more this season, and this is just the tip of the iceberg.
To help retailers prepare for the 2023 holiday season, Square and Afterpay conducted a survey of 1,500 U.S. consumers between July 21 and July 31, 2023, to compose our annual Festive Forecast. The core sample data was nationally representative across age, gender, and location, with an additional sample of 500 for Gen Z and millennials. Industry findings were based on a survey of 265 Square sellers in the U.S. conducted between August 8 and August 19, 2023.
The Festive Forecast findings showcase how businesses are preparing to meet consumer needs, how shoppers are preparing to spend, and the tools, resources, and strategies they’re using to find their way to each other.