NEW YORK, Jan. 12, 2023 /PRNewswire/ -- Despite continued inflation and the potential of a recession, 67% of Americans plan to spend either the same or more in 2023 as they did in 2022 on retail purchases according to a new survey commissioned by DailyPay and Dollar Tree and conducted online by The Harris Poll among over 2,000 U.S. adults. However, 44% are more likely to prioritize shopping for bargains in-store this year compared to last.
Signaling a continued increase in in-person shopping, about 3 out 4 Americans (73%) plan on shopping the same or more in-store in 2023 versus last year. The survey also reveals Americans' preferences regarding purchasing particular items in-store versus online.
- 81% in-store for furniture
- 69% in-store for home goods
- 65% in-store for apparel
- 65% in-store for sporting goods
- 59% in-store for electronics
"It's encouraging to see that Americans' spending plans are trending upward with only a third planning to spend less this year despite these times of financial uncertainty," said Kate Cheesman, Vice President of Customer Success, DailyPay. "With more people shopping in-store, retailers will be prioritizing retaining their top talent to maximize their in-store experience."
Dollar Tree, which operates more than 16,000 stores across the Family Dollar and Dollar Tree banners, are seeing similar trends to those revealed in the survey.
"Our customers are incredibly savvy and taking advantage of our value-price model to stretch their money even further during these uncertain economic times," said Mike Creedon, Chief Operating Officer at Dollar Tree. "While discretionary purchases remained strong, we're also seeing an increase in consumables in Dollar Tree and Family Dollar stores."
This survey was conducted online within the United States by The Harris Poll from January 4-6, 2023 among 2,032 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.8 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact email@example.com.
About Dollar Tree
Dollar Tree, a Fortune 200 Company, operated 16,293 stores across 48 states and five Canadian provinces as of October 29, 2022. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. To learn more about the Company, visit www.DollarTree.com.
DailyPay, Inc., powered by its industry-leading technology platform, is on a mission to build a new financial system for everyone. DailyPay delivers the industry's leading on-demand pay solution with modern, insight-driven pay strategies that help America's leading employers to activate their workforce and build stronger relationships with their employees, so they feel more engaged, work harder, and stay longer. Through its massive data network, proprietary funding model and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers, merchants, and financial institutions. DailyPay is headquartered in New York City, with operations based in Minneapolis and Belfast. For more information, visit www.dailypay.com/press.