Consumer Attitudes & Behavior

Washington, D.C. – The National Retail Federation’s Shop.org expects holiday sales to grow between 13%-15% from last holiday season to as much as $82 billion.

“Online and mobile continue to be a leading area of growth for retailers. In this economy savvy, cost-conscious consumers go to the web to do their research and get the best bang for their buck,” said NRF president and CEO Matthew Shay.

Washington, D.C. – The National Retail Federation (NRF) expects holiday sales to increase 3.9% to $602.1 billion, up slightly from last year’s 3.5% increase. The forecast is higher than the 10-year average holiday sales growth of 3.3%.

The group noted, however, that its forecast hinges “on Congress and the Administration's actions" over the next 45 days as the government shutdown entered a third day

Austin, Texas – More than nine-in-10 (91%) holiday shoppers admit to overspending on presents, according to a new survey from RetailMeNot, with 60% of overspenders saying they do so because they thought giving a gift the person would love was worth the extra money.

Boston -- Over half (54%) of American bought a product associated with a cause over the last 12 months, a 170% increase since 1993, according to a report by Cone Communications. And 89% of Americans are likely to switch brands to one associated with a cause, given comparable price and quality, up nearly 35% since 1993.

Springfield, N.J. – Village Super Market reported net income of $6.2 million during fourth quarter 2013 and $25.8 million during the full fiscal year. These figures were respectively down 31% from $9 million and 18% from $31.4 million year-over-year.

The retailer cited the negative impact of higher expenses and lower gross profits as contributing to its drop in net income.

New York -- Consumers are choosing specialty foods over conventional foods at record levels, according to research from the Specialty Food Association.
 
Nearly 75% of U.S. consumers report making specialty food purchases this year, a major increase since the economic downturn of 2009 when only 46% reported that they bought these high-quality products. Consumers surveyed say they spend about one quarter of their at-home food dollars on specialty options like artisanal chocolates, cheeses and oils.

New York -- Despite the availability of retail technology, price and product selection are still the largest factors influencing shopper decisions, according to an annual study by global IT services and consulting firm Cognizant. Fifty-five percent of shoppers will leave a store to look online or shop another store if they think a price seems too high, and 21% will ask for a price match.
 

Lewisville, Texas – Consumers prefer prepaid cards that can be used anywhere to gift cards from specific retailers and physical cards to digital cards.

According to the new “People Prefer Prepaid Rewards” study from Parago, more than half of shoppers prefer prepaid cards over gift cards from Amazon, iTunes, Target, Walmart, Home Depot and more. In addition, two out of three shoppers prefer physical cards over digital cards.