ICSC: Holiday shopping to begin early; electronics to be most popular gift

New York --Holiday shopping is going to start early this year, according to the International Council of Shopping Centers’ latest consumer tracking survey. About 35% of consumers have or will have started their holiday shopping by the end of October. Roughly three out of five shoppers will begin shopping by Thanksgiving this year, and by the end of the Thanksgiving weekend 86% will have started making purchases.



Only 10% of shoppers say they will finish before Thanksgiving Day. That number will increase significantly by Dec.15, however, as two-thirds of consumers expect to have their shopping finished by that point.



“Consumers seem to be interested in getting out to stores early this season,” said Jesse Tron, spokesperson for ICSC. “As a result, the importance of November to the overall season can’t be overlooked as consumers indicate they plan to complete 37% of their holiday purchasing during the month--only slightly behind December’s share of 42%. The promotional Thanksgiving weekend is likely having a large impact on those intentions.”



On average, consumers expect to spend about $677 on holiday-related items this season, with $559 going towards gifts and $118 going towards other holiday-related items (e.g. decorations). About 70% of these shoppers said they plan to spend the same or more than last year. A change in the number of people they need to purchase gifts for and a change in their holiday budget (regardless of job status or income), were the two main reasons for a shift in expectations. Only 19% of consumers attributed a spending shift to a modification in job status or income.



Electronics will be the most popular gift this year: 52% said they would purchase them, a striking difference from last year when just 27% of consumers said they would purchase electronics.



Another perennial favorite, apparel, came in second at 49%, a slight uptick over 2013 (43%). It seems shoppers are looking to be more personal this year as only 45% of shoppers said they would purchase gift cards--down from 60% last year.



Just over 60% of consumers said they planned to visit a mall or shopping center for a reason other than shopping during the holiday season. The number one reason, according to 45% of respondents, will be to participate in a charitable or fundraising event at the center (e.g. food, clothing, or toy drive).



Nearly 20% of respondents said they would visit a mall or shopping center for a Santa-related activity. Another 20% said they would go for an experience--such as dining or entertainment options, like seeing a movie or going ice skating.