Monday, November 05, 2007

Seven Reasons Why Your Wallet Will Weigh Less During The 2007 Holiday Shopping Season

The 2007 Holiday Shopping season is about to commence soon and the National Retail Federation is forecasting a brisk holiday season:

  1. The average consumer will spend on the average $923.36 on holiday-related shopping.
  2. The four segments of the retail format that will most likely benefit from increased activity are department stores, discount houses, grocery stores, and on-line shopping sites.
  3. The average consumer will do 30.2% of their shopping on-line.
  4. The average consumer will spend $469.19 on gifts for family, $90.13 on gifts for friends, $22.79 on gifts for co-workers, and $37.45 on gifts for people such as babysitters.
  5. It is estimated that consumers will increase spending on flowers ($20.53), Christmas decorations ($49.76), candy ($94.69), and greeting cards ($32.21) over last year.
  6. Gift cards are the most popular items requested, followed by books, CDs, DVDs, video and video games then consumer electronics, then housewares and furnishings.
  7. What brings people into stores for the holiday season? Low Prices (12.8%), Sales and Price Discounts (38.2%), Merchandise Selection (22.6%), Product Quality (12.8%), and Location Proximity (6.3%).

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