NRF Sees ‘Positive Momentum’ in Retail Sales Growth
October 21, 15
(IDEX Online News) – Average holiday gift spending is expected to total $462.59 according to the latest data from the National Retail Federation’s Holiday Consumer Spending Survey.
“Despite the challenges that still exist in our economy, it looks as if consumers are eager to celebrate the holidays with friends and family this year,” said NRF president and CEO Matthew Shay. “We expect consumers will tackle their holiday shopping lists with a healthy dose of optimism, tempered by a hint of caution as they look for ways to find the perfect, practical gift.”
“We continue to see positive momentum in retail sales growth, giving us reason to believe consumers will show up this holiday season as they look to take advantage of all of retailers’ promotional offerings,” continued Shay. “In an effort to attract all shoppers – from the extremely price sensitive to the online millennial, retailers will be offering exclusive incentives, low prices, price-matching, top toys and everyone’s favorite – free shipping and buy online pick up in store offers.”
Most shoppers say they will be buying at discount (55.9%) and department stores (55.6%), and online (52.9%).
Of those who plan to shop online, 46.5 percent say they will take advantage of retailers’ buy online pick up in store or ship-to-store options.
Almost half of holiday shopping – buying and browsing – will be done online
The survey found nearly half (46.1%) of holiday shopping will be conducted online, up from 44.4 percent last year and the highest recorded since NRF first asked in 2006.
The survey also found that 21.4 percent of smartphone owners will use their device to purchase holiday merchandise this year, the highest seen since NRF first asked in 2011. Additionally, more will use their smartphone to research products (37.9% vs. 35.8% last year) and to look for a way to connect with a retail store by looking up retailer information like store hours and directions (28.4% vs. 26.9% last year). One in five (20.3%) will specifically use their smartphone to look up product availability in a store.
Tablet owners plan to be just as mobile-active. Nearly half (47.5%) will use their device to research products and 34.5 percent will use their tablet to make a holiday purchase of some kind, similar to last year (33%); nearly one-quarter (23.5%) will check for in-store availability from their tablet.