The National Retail Federation (NRF) annual holiday spending survey results were released, with a promising outlook for the holiday retail spending season. Consumers surveyed reported they expect to spend an average of $967.13 this year, up 3.4% from last year. Online shopping was listed by consumers as the #1 shopping destination for the first time ever, listed so by 59% of those surveyed. The NRF also noted it expects retail sales in November and December to be up by almost 4% over last year, for a total between $678 billion and $682 billion.
The survey also reports that gift cards remain the #1 popular item on wish lists. This is followed by clothing and accessories at 55%, which is the highest level that category has seen in over a decade. Other popular categories include consumer electronics at 33%, home décor at 24% and home improvement items at 18%. While 59% will shop online, 57% say they will shop at a department store, 54% at a discount store and 35% at a clothing or accessories store.
The survey showed that with regard to holiday spending only 27% are concerned about the impact of the nation’s economy, which is down 32% from last year.
Source: Chain Store Age
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