The prestige beauty gift set industry posted double-digit growth year-to-date and looks to be quite promising this holiday, especially makeup and skin care gift sets, according to market research company the NPD Group.
According to a recent BDO USA survey, chief marketing officers at leading U.S. retailers expect a 3.7% increase in holiday comparable store sales, marking the survey’s most optimistic forecast since 2007, when CMOs projected a 5% increase in comparable store sales.
More than half of consumers say they plan to spend $500 or more on gifts this holiday season, slightly more than what they planned on spending in 2011, according to PriceGrabber’s winter holiday shopping survey.
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.
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.
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%.
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.