Surprisingly Bright Outlook for Holiday Shopping
Here's a pleasant surprise: The NPD Group is predicting that Holiday spending will rise this year -- despite all the obvious pressures. Based upon a survey of over 2100 consumers, here are the key points they determined:
• Holiday shoppers will spend $681 this season, compared with $655 last year (Prediction: NPD Group);
• About 1 in 4 consumers surveyed said rising gas and oil prices would have a significant impact on their holiday spending;
• 37 percent of respondents plan to buy goods online, according to the study;
• 67 percent who said they plant to go to discount stores such as Target and Wal-Mart Stores;
• Leading purchases will be (in order): clothing, toys, DVD movies, consumer electronics, and books.
Other key influences that will affect where and how consumers shop:
51 percent of consumers say they comparison-shop before they buy a gift
48 percent prefer to buy special gifts the recipients wouldn’t buy themselves
43 percent use ads and circulars to guide their gift shopping
37 percent think it is nicer to give a gift than a gift card or gift certificate
32 percent plan to buy their holiday gifts on sale
27 percent say they will pay more for the perfect gift
NPD also said that this holiday season is expected to be notable as "the year of giving to those in need." Shoppers will be more inclined to give to the needy or buy products for which the proceeds will go to charity, the research firm said.
DESPITE OBSTACLES, CONSUMERS WILL STILL SPEND THIS HOLIDAY SEASON SAYS NPD SURVEY
PORT WASHINGTON, NEW YORK, October 5, 2005
Study: Holiday sales set to jingle
By CNET News.com Staff, Wed Oct 05 14:34:00 PDT 2005
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This is about a 4% gain vs 5% to 5.5% December to December gains in GAFO sales over the last couple of years.
Interestingly, I saw a 5% x-mas forecast reported as a disappoining number the other day.
Posted by: spencer | Oct 6, 2005 8:49:59 AM
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