Nielsen: Holiday spending to increase 1.9%

New York –- Holiday spending among U.S. consumers is expected to rise 1.9% in 2014 compared to the prior year. According to the 2014 Nielsen Holiday Retail Sales Forecast, which surveyed more than 25,000 demographically representative American households in September, 25% of respondents had already started holiday shopping in September.



Women seem to be leading the early shopping trend, as 27% of female survey respondents compared to 12% of males already started holiday shopping this year. Out of those who already started holiday shopping, 30% have five or more household family members and 32% have kids younger than age 12. Multicultural households are drivers of those spending more.



Twelve percent of respondents plan to spend more on gift cards this year than last year, 10% plan to spend more on tech gifts, 10% plan to spend more on toys and 9% plan to spend more on apparel. Millennials (10%) favor giving tech items while Gen Xers (10%), Boomers (10%) and Greatest Generation (10%) favor gift cards.



Looking at generational holiday spending trends, Millennials (17%) plan to spend more online than Gen X (15%), Boomers (12%) and Greatest Generation (7%). About one in five (19%) respondents plan to spend more online, 10% plan to spend more at mass merchandisers and 9% plan to spend more at toy stores.