RSS feed Get our RSS feed

News by Topic

BizReport : Trends & Ideas archives : October 10, 2012

Consumers intend to spend same or more this holiday season

Positive news for retailers today, from market research company The NPD Group. While holiday shopping will get off to a later start this year than in 2011, few consumers intend to spend less.

by Helen Leggatt

There is light at the end of the tunnel, according to The NPD Group's chief industry analyst, Marshal Cohen. The Annual Holiday Survey reveals that consumer confidence is up and 10% plan to spend more this year, compared to 9% last year.

Sixty-seven percent plans to spend about the same as they did last year, compared to 64% last year.

"While consumer confidence seems to be up retailers will still face some challenges," warns Cohen. "They will need to develop creative ways to lure shoppers into the stores."

The holiday shopping season will start later this year than last. More consumers had started shopping by this time last year but, says Cohen, this year's elections are distracting many. However, once over, they will spring into action.

The number intending to shop online this year remains the same as last - 38%.

Tags: consumer attitudes, consumer spending, holiday 2012 trends, holiday shopping, retail, survey

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.