The post-pandemic world of retail and consumer behavior has increasingly felt like a moving target due to economic uncertainty. As tax refunds start hitting customers’ pockets, Walmart Connect is helping advertisers understand the nuances of how inflation will impact tax time spending this year.
To uncover the real-time intent behind how families will spend their tax refunds, we surveyed our community of Walmart customers to learn what they will purchase and what will influence them to buy. Advertisers can use these first-party insights to examine and adjust their omnichannel strategy and creative messaging to effectively engage Walmart customers wherever and however they choose to shop using their tax refund money.
When customers plan to spend their tax refunds
Many Walmart customers are filing early to eliminate deadline stress and get their money as soon as possible. More than half of customers surveyed (64%) filed their returns in January and February, and 49% expect their tax refund amount to be the same or more than they received last year1. With refund money in hand, many Walmart customers started shopping as early as February and expect to spread the balance over several weeks, with the bulk of spending occurring between February and May1.