Trader: Impulse buying down this holiday season
Since every year the largest number of people leave their Christmas shopping to the last minute, the weekend and Monday are expected to be the busiest sales days of the year for most retailers. During leaner times, however, purchases are planned more carefully and impulse buying is avoided.
"The weekend right before Christmas is always the busiest, with the biggest crowds and plenty to do. Tomorrow will be a little calmer. Honestly, I'm the same way – I keep postponing and postponing, and then suddenly realize it's the last moment and I have to get something," said Rain Siemer, CEO of Rahva Raamat.
Although one might expect that books would be the main purchase at a bookstore, this isn't always the case.
"People buy everything for the whole family here – socks for dad, cream for mom, toys for the kids, a game for the family and then maybe a book or two. This year's bestseller has been a Chuck Norris jokes book. Lauri Räpi's new book is popular and Kristiina Ehin's works are currently topping the charts," Siemer said.
Spending on Christmas gifts at the bookstore hasn't decreased compared to last year. In fact, books have become slightly cheaper due to falling paper prices.
"One person might spend €100 to €150 here if they're planning bigger purchases, which might include four or five gifts," Siemer explained.
"People might save elsewhere, but gifts are one area where they maintain their standards," he added.
Electronics stores are also experiencing high sales right now, though the numbers are still below those of Black Friday weekend. This year, the average tech gift is less expensive than last year.
"Our average shopping basket is still between €200 and €300. Customers are buying various items for the whole family – kettles, toasters, even those are popular as gifts today. Speakers and headphones are very popular, and lately, the top product has definitely been Apple headphones," said Martin Soom, head of retail at Euronics.
"The average shopping basket is lower in price. However, some categories are seeing more sales. People are buying more based on need, with perhaps fewer impulse purchases," he added.
When it comes to gifts for children, many purchases are planned earlier, leaving fewer last-minute buys.
"We've noticed that the last week of November, during Black Week, is when many customers buy their gifts in advance. The trend is for people to shop earlier, look for special deals or larger bundles, knowing they'll get better prices during that time. However, we can't say that there are fewer customers now. There are still plenty of last-minute shoppers, and the stores are packed in these final days," said Jana Väli, marketing director for XS Toys.
Parents aren't cutting back when it comes to spending on children, though there are no standout new products this year. Lego remains the most popular gift.
"The average gift is about €40. People don't skimp when it comes to their kids, but the trends have shifted. Trendy products are cheaper now. Customers are buying more items, but the prices are slightly lower than they might have been before," Väli explained.
--
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Marko Tooming, Marcus Turovski