1、2022 holiday shopping and travel reportRecalibrating celebrations in uncertain timesIBM Institute for Business Value|Research Brief2Recalibrating celebrations in uncertain timesIBM Institute for Business ValueIn 2022,the world shifted its focusagain.As vaccines began to make COVID outbreaks more man

2、ageable,a wider set of economic and political issues took center stage.Many individuals began to fear less for their physical safetyand worry more about their personal finances.New types of risk and uncertainty colored a year many had hoped would offer a return to normalcy.A combination of disruptio

3、n and financial strain has also diminished economic projections for the holiday season.In 2021,holiday spending jumped 14%,likely due to easing pandemic restrictions.But this year,Bain&Co.forecasts growth of only 7.5%which drops to between 1%and 3%when adjusted for inflation.1 In response,some consu

4、mers are rethinking their wish lists,while others are getting creative to get everything they want.After two tough years,many want to celebrate,even with dark clouds on the horizon.To earn a greater share of this years holiday spend,brands and retailers need to understand what consumers see as non-n

5、egotiable,what theyre willing to pay more forand what people with the most purchasing power expect to prioritize.To better understand individual perspec-tives,as well as their plans to shop and travel this holiday season,the IBM Institute for Business Value(IBV)surveyed more than 12,000 adults acros

6、s nine countries(Brazil,Canada,France,Germany,India,Mexico,Spain,United Kingdom,United States)in August 2022.We found that 2022 shopping budgets are up 8%over 2021in line with Bains economic forecastand holiday travel budgets are up 49%.However,prices have increased,as well.IntroductionHoliday purch