Whether you fought off the effects of the tryptophan in your turkey to hit the shops at midnight on Black Friday or made some online purchases from the comfort of your couch, chances are, you’ve already begun your holiday gift search. We’re here to offer some insights on the spending habits of consumers this holiday season.
Trends have indicated that while shopping for all the trendy holiday gifts, consumers are looking and buying online. Visa Inc. released data revealing that between the four day period from Black Friday to Cyber Monday, online spending reached a record high at $5 billion. International Business Machines Corp. (IBM) has indicated that online shopping activity increased by over 28% on Cyber Monday, with sales rising more than 10% (Source).
Consumers are spending confidently this season: The National Retail Federation has suggeste d that holiday spending will develop from last year, growing to an estimated 4% to make up $586.1 in sales. The average shopper is projected to spend almost $750 on purchases for the holidays, up from $741 in 2011. Though many shoppers aren’t wholly convinced of the economic turnaround, many are at least feeling optimistic about the recovery, causing them to rest-assured that spending is safe.
The financial consultants over at Deloitte release an “Annual Holiday Survey” to determine, as they put it, if “retailers’ registers [will] jingle” as loudly as sleigh bells do this time of year. Here are a few key takeaways from their survey:
- Clothing and gift cards make up the top gift giving ideas, even though respondents indicate they’d prefer to receive gift cards and cash.
- 45% of those polled said they would be shopping with the convenient click of a mouse on their computers.
- 11% of respondents specified that they would shop online with a tablet device.
- Consumers expect sales associates to be knowledgeable resources, providing information about the products they sell. Quick check-out at the cash wrap is also valued.
- More than ¼ of those polled would rather shop “socially” with friends and family; this level increases to 38% among women.
Get out and give – or stay in to make your gift purchases online. Either way, happy shopping – may giving and receiving bring you joy this holiday season!
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