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NPD: Consumers entertaining holidays at home
According to The NPD Group, 49% of respondents surveyed on holiday entertaining plans said they plan to entertain family or friends in their home during the upcoming holiday season. Furthermore, casual dinnerware sales growth in the double digits in the past 12 months ending September 2010 show that the trend is toward less formal dining. Sales in the formal fine dinnerware segment remain down year-over-year.
Thirty-two percent of respondents told NPD that they entertained at their home less over the past year than in previous years, however, 11% said they entertained more.
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NRF raises holiday forecast
Washington – After a solid start to the holiday season, the National Retail Federation announced that it is revising its holiday forecast to 3.3%, up from 2.3%. The upward revision is due to improvement in a variety of economic indicators including stock market gains, recent income growth, savings built up during the recession - all giving consumers the capacity to spend.