U.S. households are expected to spend an average of $497 on gifts this holiday season, the Conference Board reported. Only 7% of consumers said they plan to spend more on holiday gifts this year, while approximately 49% plan on spending less than last year.
With the holiday season fast approaching, there has been a significant amount of press coverage regarding the role mobile devices will play in driving retail sales this season. The consensus is that mobile devices are changing the shopping landscape, and that the 2011 holiday season will be the tipping point — the year that consumers widely integrate mobile devices into their shopping routine.
According to the National Retail Federation’s annual Return Fraud Survey, completed by loss-prevention executives at 103 retailers, the retail industry will lose an estimated $3.5 billion to return fraud this holiday season, down from $3.7 billion last year.
Walmart on Thursday officially released its Black Friday circular on its website and Facebook page to help families save money this holiday season, and will host shopping events as early as 10 p.m. on Thanksgiving Day.
Despite concerns about the economy and rising household expenses, nearly 3-out-of-5 consumers (59%) will put aside economic worries and spend the same or more this holiday season, according to Deloitte’s 26th annual survey of holiday spending intentions and trends.
As many as 71% of consumers earning less than $100,000 per year are planning to trim back their spending this holiday season, according to new research, “Holiday Shopping 2011,” released Tuesday by SymphonyIRI Group.
It looks like this year's holiday shoppers have a renewed focus on value and will comparison shop by utilizing smartphones, tablets and mobile applications to make purchasing decisions, according to the latest National Retail Federation survey.
In the wake of several surveys projecting how shoppers will spend this holiday season, the latest study from ShopperTrak expects national retail sales to increase 3% during November and December, while foot traffic will drop 2.2%.
Retailers should expect a boost in sales this Valentine's Day, as total spending is projected to reach $15.7 billion among consumers ages 18 years and older, according to the National Retail Federation.
ComScore on Wednesday tabulated $28.4 billion in holiday season retail e-commerce spending for the first 49 days of the November/December 2010 holiday season. That marks a 12% increase versus the year-ago period.