HOFFMAN ESTATES, IL – Two surveys commissioned by Sears, one of Hispanics and the other of African Americans show that even in lean times like these holiday traditions are as important as ever.
Hispanic Survey Results
More than half (52 percent) of Hispanics feel that holiday traditions become more important in difficult economic times, according to the survey* commissioned by Sears.
Nearly all Hispanics (94 percent) plan to practice new traditions, especially when it comes to the gifts they will give. Among those practicing new traditions:
— Nearly three in five (59 percent) will set a price limit on presents
— Others will use a grab bag approach (20 percent) or give gifts from a whole group of people to share the costs (15 percent)
— Many (48 percent) also plan to alter the way they shop this holiday, taking advantage of everything stores have to offer, such as:
— Sales and coupons (91 percent)
— Layaway plans (33 percent)
— 0% financing options (23 percent)
— Shop at discount stores (81 percent), and
— Venture out to shopping malls on “Black Friday” (57 percent)
— No matter what changes they will make, many Hispanics admit that a holiday without traditions would be worse than a holiday without gifts (52 percent)
African American Findings
During these challenging economic times, nearly half (43 percent) of African Americans think traditions have become more important, and a majority (92 percent) are even focused on creating new ones. This is according to a recent survey* commissioned by Sears.
According to the survey, a majority of African Americans (90 percent) said that this holiday season they plan to adopt new, money-saving tactics never used in the past. Nearly half (47 percent) will alter the way they shop this year, taking advantage of all the holiday perks stores have to offer, using:
— Sales and coupons (82 percent)
— Rewards points programs (43 percent)
— Layaway plans (41 percent), and
— 0% financing programs (18 percent)
Many African Americans are tweaking their old holiday traditions by using a grab bag or “Secret Santa” approach to giving gifts (21 percent), using an artificial tree instead of a real one (24 percent), having “potluck” style dinners (42 percent) or setting spending limits on gifts (61 percent). And while many will give fewer gifts to friends and family, and send e-cards instead of paper cards, a majority admits that at the end of the day, a holiday without traditions, no matter how different they may be from years’ past, would be worse than a holiday without gifts (70 percent).