71% of Consumers are Ready to Pay More to Shop
at Small Businesses This Holiday Season
TEMPE,
Ariz., Oct. 31, 2024 /PRNewswire/ -- Consumers
are in a giving mood this year, not just toward their friends and
families, but also to small businesses. According to a new GoDaddy
survey, 71%* of U.S. shoppers are willing to pay more to support
small businesses during Black Friday and this year's holiday
season, with an eye-popping 53%* of them willing to spend up to 10
percent more to do so.
Despite 65%* of survey respondents agreeing that inflation will
impact their shopping this holiday season, their desire to shop
small is clear. More than 3 in 4 (78%)** people are as or more
likely to shop at a small business this Black Friday and throughout
the holidays compared to previous years, with Gen Z being the most
likely to shop small (85%)** and Millennials following closely
behind (83%)**.
Of the reasons to favor small businesses, 30% of respondents
cited wanting to support their local economy, while 18% claimed
doing so led to better customer service, and 13% preferred unique
or handmade products**.
The Stakes Are Big for Small Businesses
GoDaddy surveyed U.S. consumers to help small businesses
understand their customers' shopping priorities during the
all-important holiday season. According to the survey results, 40%*
of U.S. consumers plan to do most of their holiday shopping in the
next four weeks, with almost 1 in 5 (19%)* planning to do the bulk
of their shopping on Black Friday alone.
"Black Friday has long been considered peak selling season for
large retailers, but GoDaddy's research makes it crystal clear U.S.
shoppers are willing and eager to make this the smallest Black
Friday ever," said GoDaddy Small Business Trends Expert,
Amy Jennette. "Despite inflation
concerns and rising costs, consumers want to support their local
businesses and economies."
Jennette continued: "To take advantage of this opportunity,
small businesses should lean into the 'shopping small' experience
that consumers value and are willing to pay more for. They can do
this by focusing on unique holiday promotions and offers to attract
traffic and provide superior customer service along with unique
products and experiences they can't find elsewhere."
Who Consumers Are Shopping for and How Much They're
Spending
GoDaddy's survey also shows consumers are embracing the spirit
of giving. Nearly one-third (31%) of consumers purchase gifts for
six or more people, and 10%* extend their shopping lists to more
than 10 people.
For many, the holiday season is a time to show their generosity,
with about a fifth of respondents (22%)** typically spending more
than $100 per person. Additionally,
32% of shoppers who participated in the survey reported spending
between $51 and $100 per person during the holidays. That means
over half (54%) of respondents plan to spend more than $50 on gifts per person this holiday
season.
Spreading holiday joy isn't just about giving gifts to others.
Two-thirds (67%)** of consumers intend to treat themselves to a
holiday indulgence, as well. Gen Z is the most likely to do so,
with 83%** planning to buy themselves a special item or
experience.
So Many Tools and Resources to Help Small Businesses This
Holiday Season
Small businesses looking for guidance on how to maximize their
seasonal sales should visit GoDaddy's Ultimate Guide to Holiday
Campaign Planning. Valuable resources include holiday marketing
advice by channel, do's and don'ts for offering seasonal
promotions, AI prompts that make it easy to manage and promote a
business during the busiest time of year, and much
more.
Visit GoDaddy.com to learn more about the solutions GoDaddy
offers small businesses, including the AI-powered GoDaddy Airo
experience that TechRadar called "a game-changer for small
businesses looking to establish their online presence, particularly
because of how much time and effort it saves."
Methodology
The survey data referenced in this news release was collected via
two surveys in which U.S. consumers were asked about their holiday
shopping habits: one conducted in October
2024 with 1,247 respondents* and one in September 2024 with 1,520
respondents**.
About GoDaddy
GoDaddy (NYSE: GDDY) helps millions of entrepreneurs globally
start, grow, and scale their businesses. People come to GoDaddy to
name their idea, build a professional website, attract customers,
sell their products and services, and accept payments online and
in-person. GoDaddy's easy-to-use tools help microbusiness owners
manage everything in one place and its expert guides are available
to provide assistance 24/7. To learn more about the company, visit
www.GoDaddy.com.
Source: GoDaddy Inc.
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SOURCE GoDaddy Inc.