Home-related merchandise should make a strong showing in the gift-giving season, according to The NPD Group’s 2017 U.S. Holiday Purchase Intentions study.
As many consumers told NPD that they would spend less money this year as would spend more, so, ultimately, prospects are for similar outlays, the market research firm stated. Still, NPD lead analyst Marshal Cohen noted that actual spending can easily differ from what’s planned if retailers deliver on great promotions and innovative products, or if economic conditions differ.
In holiday 2016, Cohen noted, consumer spending only exceeded intentions when it came to purchasing items in one of the categories NPD covered in the study: home.
Cohen added that home is likely to be a relatively strong holiday spending sector again this year. In the study, consumers said they intend to spend more on home-related goods this year than they intended or actually spent in the two years before. And, in both of those years, actual spending in the home category exceeded intended spending.
In 2017, consumers intend to spend about $230 in the home category during the holidays on average, up from $208 in 2016, NPD indicated.