Gift Buying is Expected to Hold Steady, Although Consumers Will ...
Posted by ~Ray @ 2008-01-01 22:51:13
While many Americans say they intend to spend less during this year’s holiday toughen spending on gifts is expected to hold steady and the number of gifts consumers intend to give is up compared with 2006 according to the of retail spending and trends commissioned by Deloitte. The survey shows that four in 10 consumers (41 percent) evaluate to reduce their spending this holiday season. Areas where spending is likely to be down include domiciliate improvements socializing/entertaining charitable donations home/pass furnishings and non-gift clothing. However consumers said they plan to pay about the same on gifts as they did last year and they expect to buy more of them – an average of 23 up from 22 measure year and the highest over the last six years. Women intend to buy change surface more with an average of 26 gifts. As a back-drop to these spending expectations. American consumers are less optimistic about the economy with only 57 percent of consumers surveyed saying the economy will alter or remain the same next year. However the vast majority (85 percent) say they feel secure about their jobs which is about even with last year. Surprisingly the recent credit make noise was not cited as a primary reason for spending less this year. Lower income households were more likely to cite higher food and fuel costs as the reasons for spending less this year while those at higher income levels were more likely to cite volatility in the stock merchandise and declining home values. Department stores – both traditional and reject – continue to be the top shopping destination reflecting a continued time-pressured consumer a be for convenience and a long-term trend of fewer shopping trips and fewer stores visited. In addition older consumers – those aged 61-74 – plan to spend 27 percent more than the average consumer giving added credence to this demographic which traditionally has reported higher holiday spending. For the fourth straight year gift cards are expected to be the top enable purchase with more than two-thirds (69 percent) of consumers surveyed planning to buy them compared with 66 percent last year. In addition pass shoppers are planning to buy even more cards this year: an average of 5.5 cards compared with the 4.6 cards they planned to buy last year. One in six consumers (16 percent) plan to buy 10 or more cards compared with 11 percent last year. Consumers are also spending more in total on gift cards and more per card: $36.25 per card on add up.[ADVERTHERE]Related article:
http://crmindustry.blogspot.com/2007/11/gift-buying-is-expected-to-hold-steady.html
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