A tough economy is casting a shadow over many people’s gift-giving list right now, providing a question mark as to how they will spend their hard-earned cash this holiday season. To better understand how America’s shopping and entertainment habits are evolving this year, Microsoft Corp. collaborated with Ipsos1and StrategyOne2 to produce the Xbox 360 Holiday Entertainment Survey.
It’s no surprise that the majority of respondents admitted to being more cautious about how they will spend their hard-earned cash.
Some of the key findings include these:
• 60 percent of respondents are planning to stay at or close to home to save money over the holidays
• 71 percent are looking for one gift to bring the family together
• 89 percent are hunting for gifts that keep on giving
• 81 percent of adults in households with children are looking for gifts that provide entertainment while staying home this year2
• 86 percent of young adults hope to receive at least one video game this year
• 40 percent of adults will visit the movie theater less than last year
Almost Everyone Will Stay Home for the Holidays
This year, the home is the destination for holiday entertainment with three out of five Americans anticipating spending Thanksgiving, Christmas or New Year’s Eve at home to save money. In other words, many families will spend their holiday season in the living room, looking for ways to be entertained economically.
Being Entertained at Home is Crucial to Family Happiness
As purse strings tighten, two-thirds of respondents said they are planning to spend less on friends and family than they did last year,2 with the average American reporting they plan to reduce holiday gift spending by 16 percent, an average of $124 less than 2007. People are looking for something that doesn’t cost too much yet will entertain a wide variety of relatives and holiday houseguests.
Moms polled were interested in finding a way to keep the entire family entertained, with 40 percent agreeing that it was difficult to keep everyone amused. To help put a smile on the faces of family members, 81 percent of parents are looking for gifts this year that can entertain everyone in the comfort of their own home.2 Almost one in three adult respondents said that too much family time around the holidays can get “boring,” and one in five agreed that their family spends long hours sitting around with “nothing to do” during the holidays.
Everyone loves movies. Nearly three-quarters of survey respondents said they plan on watching feature films this holiday. But 40 percent said they would cut back on trips to movie theaters, and 23 percent confirmed they’ll be watching more movies from home.
The Family That Plays Together . . .
After watching movies and TV, playing video games is the next-most popular way for 18–49 year olds to have fun over the holidays, and 86 percent of young adults are looking forward to receiving at least one game this holiday season.2 A recent Microsoft and Harris Interactive Inc. study also found that 64 percent of parents would spend more time playing video games if it was an activity the entire clan could do together. This means in 2008 the whole family can get together and play games such as “Scene It? Box Office Smash,” “Lips” and “You’re in the Movies.”-Microsoft
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