NPD: Consumers Expect To Spend More On Holiday Gifts

Weeks before the Thanksgiving holiday and what traditionally was the start of the holiday shopping season, consumers have been out buying gifts. But for many, the annual trek to their favorite store or local mall has not yet begun.

According to The NPD Group’s annual Holiday Purchase Intentions survey, 30% of respondents plan to start their holiday shopping over the Thanksgiving weekend, a figure that is up slightly over 2018. Nearly half of respondents said they plan to start shopping before Thanksgiving, a figure that has held steady in recent years.

The challenge for those consumers waiting to start shopping over Thanksgiving weekend is the shortened window between Thanksgiving, which falls on November 28, and Christmas Day, December 25.

Overall, consumers expect to spend $740 on gifts this year, a figure that is up $47 from 2018.

Survey respondents selected online-only retailers, mass discount stores and national chains as their top three choices to buy holiday gifts. NPD noted that off-price chains saw an increase of 3% in the survey, the most significant increase among the top ten retail channels selected by consumers.

In terms of what products will be purchased, the NPD survey found that more shoppers plan to buy tech and spend more, while also buying more home-related products but planning to spend less.