Americans anticipate 45% dip in holiday shopping in 2021

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FILE PHOTO: A woman carries Nike shopping bags at the Citadel Outlet mall, as the global outbreak of the coronavirus disease (COVID-19) continues, in Commerce

Rising costs and tighter family budgets are very much on the minds of American consumers as the holidays and seasonal Black Friday and Cyber Monday sales approach. A new survey finds that more than half of Americans anticipate spending less on holiday shopping this year – 55% say it feels like a burden to give gifts this holiday season. Only 1 in 4 American consumers say they are willing to spend more on holiday shopping this year than last.

This is due to a number of factors – including supply-chain-induced shortages that have made gifts more expensive than ever. The need to protect your investment in gifts is similarly more important than ever, and buyers should also consider the long-term effects of their gift purchases. Something as simple as adding a service contract for a holiday gift, whether big or small, can guarantee protection from major repair costs and keep qualified assistance hassle-free.

“Service contract plans provide important financial security for consumers on the most popular holiday gifts.”Tweet this

“Consumers should be able to enjoy peace of mind when it comes to repairs, replacements, and support services for their holiday purchases,” said Tim Meenan, Executive Director of the Service Contract Industry Council. “Service contract plans provide important financial security for consumers on the most popular holiday gifts, including electronics and appliances.”

Service contracts offer exclusive benefits that can help save money in the long run this holiday season — advantages that aren’t typically available through manufacturer warranties. That’s because almost two-thirds of Americans (62%) say they aren’t factoring in potential supply chain issues or shipping delays when shopping for gifts, making service contract benefits especially useful this season.

Product replacement, and coverage against accidental damage from handling are coverages that can proactively protect your gift recipient – and their bank account – from spending more than needed to repair a damaged or malfunctioning present.

For more information, visit the Service Contract Industry Council at