Bite-Sized Insights: Almost 6 in 10 Parents Budget for the Family Holiday in January
For this week’s bite-sized insights topic, we were interested to find out when parents budget for and buy big spend items. Take a quick read of this week’s bite-sized insights to find out what parents are saying about budgeting and buying.
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We asked our Insights panel of parents to tell us about their big spends like Back to School, Christmas, Communion and Family Holidays. We asked them when they budget and buy for these. Here’s what they answered:
We also asked “Any other comments on budgeting/buying for these occasions?” Comments from parents included:
“Have left holidays blank as never have enough to budget for them!”
“With back to school clothes, Holiday/Christmas items and events which I can predict due to kids ages and recurring expenses, I often buy items/book and pay for stuff a year in advance.”
“It gets harder to budget for these occasions as everything else and everyday necessities have become so expensive. However we always do our best to get our kids what they want from Santa within reason.”
“We go on holidays off season so can buy end of summer stock. Communion, I had 2 make it together (thanks Covid) so shopped around. Have my son this year n won’t spend over €150 on his full outfit. Think it’s a waste considering it’s all for 1 day. Christmas, they are allowed 1 big gift (Nintendo switch or bike etc) then 3 smaller gifts. Again I don’t go over board as they get gifts from my family. So children’s allowance for September October & November pay for their gifts and December pays for clothing.”
“I buy for all the above throughout the year. If I see the perfect Christmas present in July, that’s when I buy it. I have bought some Christmas cards in January because they are lovely and a third of the price they were 2 months ago. I have also bought birthday presents in the January sales for a 3 year old birthday whose birthday is in March. If I wait until the last minute, there is more likely to be a higher spend and maybe not the perfect items that I want.”
“I tend to budget throughout the year and save into the pots as I go. I know roughly how much I’ll need for each so it allows me spread the cost throughout the year and avoid pressure points.”
“I tend to save during the year for big ticket items like Back to School, Christmas and Holidays. For communion and confirmation I would have booked things like going out for a meal or catering or a bouncy castle as soon as I got the date and then paid for them when needed.”
“Start the back to school spend in May as that is when the book scheme payment is due in my son’s school. I also join a club in the local school supply shop to build up enough to cover the cost of primary school tracksuits and secondary school items needed.”
“Christmas shopping is an all-round affair, picking up any bargains I might see for those I buy presents for but am consciously looking for bargains from June onwards.“
Actionable Insights for Brands
- Parents plan for big spends earlier than when they outlay so useful content that helps them plan helps build trust and bring your brand in front of their eyes.
- Understanding what parents want as prices continue to rise and cost of living goes up. Sense-checking with parents should be part of your ongoing strategy this year.
- When was the last time you talked to parents about your loyalty scheme or discounts/offers you communicate? We can help find out what they think and what they do (or don’t) value so your scheme/offers can be on point this year.
Want to find out exactly what it is parents want when it comes to their grocery shopping? We can help! Contact us to start your parents insights journey