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.
The consumer spend will gain but experiences continue to weigh against product purchasing as the holiday season approaches, according to Deloitte’s annual Holiday Survey. Two-thirds of respondents stated that they plan to spend on travel or socializing outside their homes as part of their year-end festivities.
Members of Generation Z influence a significant amount of household purchases and enjoy spending their own money, according to the latest issue of the Consumer View report released by the National Retail Federation.
Consumers said they will spend an average of $1,007.24 during the holiday season this year, up 4.1% from the $967.13 they said they would spend last year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.
Generation X has entered its prime earnings years, and Statista, referencing a poll conducted by YouGov on behalf of MarketingCharts, pointed out that TV ads and word-of-mouth are the most important purchase influencers for Gen Xers, beating any type of paid online advertising by a significant margin.
According to Blis, a purveyor of location data technology, consumer gift buying will follow typical lines for the most part this holiday season. But for the 18.7% of shoppers who plan to spend more money this year at the holidays, 64.5% are inclined to spend anywhere from 10% to 40% more than expected if a physical retail location is holding a sale.
According to a new survey from Deloitte, three-quarters of Americans plan to shop over the Thanksgiving holiday weekend, spending an average of $427 between Thanksgiving Day and Cyber Monday.
Most consumers say they will spend about the same amount during the holiday season this year as last year, but a new survey released by the National Retail Federation and Prosper Insights & Analytics indicates that young adults ages 18 to 24 years old are the most likely to increase spending.
About 70% of consumers shop Amazon.com, according to a survey conducted by CPC Strategy, and almost a quarter of shoppers overall browse the site are open to new brands and products.
Practical considerations about price, convenience and product quality are paramount when consumers consider where and how to do their back-to-school shopping, whether in-store or online, according to the new back-to-school report from The NPD Group.
Consumers heading to their favorite stores to shop for their back-to-school/college needs are expected to increase their spending from 2016, according to the National Retail Federation’s annual consumer survey.
Prosper Insights & Analytics has released its “Holiday 2016: Top Trends,” which includes somewhat restrained consumer spending plans but a more flexible outlook on purchasing.
Younger consumers plan to spend more in the holiday season this year, according to an Accenture study, but they will be on the hunt for bargains. The hunt will be pursued heavily online, Accenture noted.