Thrifty Thinking: Trimming Your Holiday Budget

With the holiday season now in full swing, consumers say they are flocking online to buy everything from holiday gifts to groceries, according to a holiday survey⁽¹⁾ by Quotient Technology Inc. and its popular savings app, Coupons.com. More than 27% of those surveyed said they plan to buy groceries online for their holiday dinners, with 63% saying they plan to shop online or mostly online for holiday gifts.

And what’s causing the most anxiety this holiday season? The thought of spending too much money.

As people plan to buy their groceries online for delivery or picking up at the store, saving money is definitely top of mind. Per Quotient’s holiday survey, 74% said they will use digital coupons when buying groceries online, compared to 17% who said they won’t use coupons and 9% who plan to use paper coupons. When asked why they use digital coupons for groceries, 69% said, “digital makes it so easy to save.”

While the holiday season is a time of joy, it can also come with stress. Spending too much money (38%) is the number one cause of holiday anxiety, according to Quotient’s holiday survey, followed by shopping for the perfect gifts (20%), planning, shopping and cooking holiday dinners (16%), and then socializing with family and friends (14%).

Convenience (34%) was the number one reason to shop online, followed by 20% who believe they find the best gifts both online and in-store, and 15% who said there are more choices online. For in-store shoppers,16% enjoy the fun of shopping in-store, and 15% want to touch and feel the products.

Other holiday findings:

Who will shoppers spend the least amount of money to buy a holiday gift?

• More than 16% will spend the least on their friends, and 14% will spend the least on their significant others, brothers and sisters, and co-workers (which all tied for second).

When do shoppers think the best deals are for holiday gifts?

• While most respondents cited Black Friday and Cyber Monday as the best days for deals, 27% said smart shopping wins out as a way to get great deals on holiday gifts year-round.

I had a chance to interview Jeanette Pavini. Coupons.com savings expert, to learn more about holiday budgeting.

How can people find the best deals and save money while shopping online?  

The internet is really the consumers best friend when it comes to saving money. There are a few things every consumer should do before making an online purchase.

1. Most people do a search to find the best price on the item they are looking for, but you should go a step further and compare what the shipping and return policy is. Always factor that into the bottom-line. 
2. Always look for a coupon code to save even more money! At the very least you can usually find free shipping. 
3. Often times if you abandon your cart, you will receive an email with an incentive to go back and buy the item. This just happened to me the other day.

How can people trim their budget during the holidays?

The best way to trim your budget comes down to 3 words: Have a Plan! You must look ahead to all the parties, gifts, trips and even increased heating bills. Write up all of your anticipated expenses and then start to trim. For example, running out to buy a bottle of wine on the way to a party can cost you. If you know you have 3 parties to attend, look at what is on ad at your local grocery store and stock up. If you are going to be traveling, compare leaving out of or flying into other local airports. You would be amazed at the savings. 

Groceries are a big expense this time of the year. Plan your menu around what is on sale at your local grocery store and then find coupons to save even more.

Your smartphone can help! Just download apps like the coupons.com app and ink it to your grocery store loyalty card. Now when you are at checkout, not only will you get the store sales but the coupons will add to your savings. 

When it comes to gifts, how can people find quality gifts for people who mean a lot to them without breaking the bank? 

I am a big fan of giving a magazine subscription on an area of interest for family and friends. The topics are endless! You can find great magazines for under 10 bucks! And it’s the gift that will remind them of you when it arrives every month!

Giving a photo in a beautiful frame is still one of my favorite gifts to give. You can find great deals on frames and adding the photo gives it that personal touch.

If you are going to bake cookies or some other holiday treat, add the recipe to the package. This will add that personal touch. 

If you want to get a more expensive gift, such as electronics, find out if the store has any prior year models. Usually there are only minor changes from year to year, but you can save a significant amount of money. 

To start saving today and reduce holiday anxiety, download the Coupons.com app.

(1) Quotient Technology online holiday shopping survey using Survey Monkey with 555 respondents, aged 18 – 44, throughout the United States.

About Quotient Technology Inc.

Quotient Technology Inc. (NYSE: QUOT) is the leading digital promotions, media and analytics company using proprietary data to deliver personalized digital coupons and ads to millions of shoppers daily. Our core platform, Quotient Retailer iQ™, connects to a retailer’s point-of-sale system and provides targeting and analytics for consumer packaged goods (CPG) brands and retailers. Our distribution network also includes our Coupons.com app and website, thousands of publishing partners and, in Europe , the Shopmium mobile app. We serve hundreds of CPGs, such as Clorox, Procter & Gamble, General Mills and Kellogg’s, and retailers like Albertsons Companies, CVS, Dollar General, Kroger and Walgreens. We operate Crisp Mobile, which creates mobile ads aimed at shoppers, and Ahalogy, a leading influencer marketing firm. Founded in 1998, Quotient is based in Mountain View, California, with offices across the U.S., in Bangalore, India; Paris and London. Learn more at Quotient.com, and follow us on Twitter @Quotient.

Quotient, the Quotient logo, Quotient Retailer iQ, Shopmium and Ahalogy are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United States and other countries. Other marks are the property of their respective owners.