Some holiday shoppers are buying for themselves instead of gift-giving

foxbusiness.com:

Woodshaw Financial Group Principal D.R. Barton provides his outlook on Walmart and Apple shares and discusses the decline in Treasury yields.

Retailers could see some consumers make purchases for themselves that they won’t use for gift-giving while participating in two popular upcoming holiday shopping days, according to a Tuesday survey.

The newly released Shopify-Gallup Holiday Shopper Pulse survey pegged the percentage of holiday shoppers with such Black Friday or Cyber Monday intentions for themselves or their households at 64%.

Spending on presents to give to others was «probably» or «definitely» not in the cards for 13% of those with intentions of taking advantage of Black Friday or Cyber Monday, it found.

People carrying shopping bags walk inside the King of Prussia shopping mall in Pennsylvania as shoppers show up early for the Black Friday sales on Nov. 26, 2021. (Reuters/Rachel Wisniewski)

That comes as other data from the survey, which overall involved more than 1,700 U.S. adults and took place Oct. 4-16, showed 41% of holiday shoppers expressed some degree of likelihood of buying things on Black Friday. For Cyber Monday, the share was higher, coming in at 61%, according to the Shopify-Gallup survey.

SURVEY: MANY HOLIDAY SHOPPERS ANTICIPATE GIFT SPENDING WILL BE EQUAL OR EXCEED LAST YEAR

Black Friday is on Nov. 24 with Cyber Monday following on Nov. 27. Many retailers implement special deals on those post-Thanksgiving shopping days for consumers. 

On either of those days, 34% of possible shoppers indicated they may try to pick up extra products that they typically use with a lot of frequency day to day, according to the Shopify-Gallup survey. Such products they may stock up on include baby and