Even in light of the small increase in anticipated consumer spending ($824.00, or 2.9% more than last year), the holidays provide a traditional ‘reason to buy,’ and can be a relief valve for some good old fashioned discretionary spending. That desire is showing up in the products and services consumer have on their shopping lists.
In this year’s Holiday Spending Survey consumers indicated they’d use the full range of retail channels available to them. More shoppers say they’ll go online to shop this holiday season, but that’s been a continuing trend for years now.
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| Discount Dept. Stores | 90% |
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| Traditional Dept. Stores | 70% |
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| Online | 97% |
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| Specialty Stores | 35% |
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| Catalogue | 70% |
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Given that consumers are being careful about money, when it comes to bricks-and-mortar stores, consumers will be looking for higher levels of customer service. Ten percent of shoppers indicated that customer service could be a real retail differentiator and a promotional deal-buster, so retailers need to think about delivering real delight this season – beyond “Free Shipping,” which was last year’s “delight,” and this year’s “expectation.”
What are they buying? Shopper responses were pretty similar to last years’, with a slight downturn in electronics, computers, and phones. Also, it looks as if folks will be staying home for the holidays.
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| Gift Cards | 92% |
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| Clothing & Accessories | 70% |
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| Electronics/Computers/Phones | 50% |
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| CDs/DVDs/Video Games | 40% |
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| Jewelry | 18% |
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| Personal Care Products/Services | 22% |
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| Food & Wine | 20% |
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| Books | 10% |
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| Home Décor | 10% |
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| Travel | 1% |
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Two-thirds of the consumers surveyed (66%) indicated that they would begin their holiday shopping earlier this year, looking for deals and sales before ‘Black Friday’ or ‘Cyber Monday.’ But sales are underway and we expect that it’s only going to ratchet up.
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