New survey results point to happy holiday for retailers
It appears that retailers are headed for a happy holiday selling season — especially online.
Consumers say they will spend an average $967.13 this year, up 3.4% from the $935.58 consumers said they would spend when surveyed this time last year, according to the annual survey conducted by Prosper Insights & Analytics for the National Retail Federation. And for the first time in survey history, online is the most popular shopping destination this year, cited by 59% of consumers.
The consumer survey comes on top of NRF’s annual holiday spending forecast, which projected that holiday retail sales in November and December this year will be up between 3.6% and 4& for a total between $678.8 billion and $682 billion.
In addition, imports set an all-time record high late this summer as retailers brought in merchandise in anticipation of a strong holiday season, and are continuing at unusually high numbers this fall, according to NRF’s monthly Global Port Tracker report.
The survey found that only 27% of consumers say their spending will be impacted by concerns about the nation’s economy, down from 32% last year and the lowest level since NRF began asking the question during the Great Recession in 2009.
Holiday spending comes in three main categories – gifts, at $608.06; items such as food, decorations, flowers and greeting cards, at $218.08; and other non-gift items consumers buy for themselves and their families, at $140.99.
In other survey findings:
• Fifty-seven percent of consumers will shop at a department store, 54% at a discount store, 46% at a grocery store/supermarket and 35% at clothing or accessories store. Twenty-seven percent plan to visit an electronics store, 25% a small or local business, and 18% will go to a crafts or fabrics store.
• Most online shoppers will take advantage of free shipping (94%) and conveniences like buy online, pick up in store (49%). In addition, 19% will take advantage of expedited shipping and 12% will use same-day delivery.
• A majority of consumers (59%) are waiting until at least November to begin holiday shopping. However, 22% started or were planning to start in October and 19% in September or earlier.
• For the eleventh year in a row, gift cards remain the most popular items on wish lists, requested by 61% of those surveyed, followed by clothing and accessories at 55%, the highest level the category has seen in 12 years.
Thirty-nine percent would like books, music or movies, the lowest in survey history; others asked for consumer electronics (33%), home décor (24%), jewelry (23%), personal care or beauty items (21%), sporting goods (20%), and home improvement items (18%).
Consumers say they will spend an average $967.13 this year, up 3.4% from the $935.58 consumers said they would spend when surveyed this time last year, according to the annual survey conducted by Prosper Insights & Analytics for the National Retail Federation. And for the first time in survey history, online is the most popular shopping destination this year, cited by 59% of consumers.
The consumer survey comes on top of NRF’s annual holiday spending forecast, which projected that holiday retail sales in November and December this year will be up between 3.6% and 4& for a total between $678.8 billion and $682 billion.
In addition, imports set an all-time record high late this summer as retailers brought in merchandise in anticipation of a strong holiday season, and are continuing at unusually high numbers this fall, according to NRF’s monthly Global Port Tracker report.
The survey found that only 27% of consumers say their spending will be impacted by concerns about the nation’s economy, down from 32% last year and the lowest level since NRF began asking the question during the Great Recession in 2009.
Holiday spending comes in three main categories – gifts, at $608.06; items such as food, decorations, flowers and greeting cards, at $218.08; and other non-gift items consumers buy for themselves and their families, at $140.99.
In other survey findings:
• Fifty-seven percent of consumers will shop at a department store, 54% at a discount store, 46% at a grocery store/supermarket and 35% at clothing or accessories store. Twenty-seven percent plan to visit an electronics store, 25% a small or local business, and 18% will go to a crafts or fabrics store.
• Most online shoppers will take advantage of free shipping (94%) and conveniences like buy online, pick up in store (49%). In addition, 19% will take advantage of expedited shipping and 12% will use same-day delivery.
• A majority of consumers (59%) are waiting until at least November to begin holiday shopping. However, 22% started or were planning to start in October and 19% in September or earlier.
• For the eleventh year in a row, gift cards remain the most popular items on wish lists, requested by 61% of those surveyed, followed by clothing and accessories at 55%, the highest level the category has seen in 12 years.
Thirty-nine percent would like books, music or movies, the lowest in survey history; others asked for consumer electronics (33%), home décor (24%), jewelry (23%), personal care or beauty items (21%), sporting goods (20%), and home improvement items (18%).