Holiday shoppers want deals for themselves
By Sandra Guy Business Reporter firstname.lastname@example.org October 19, 2011 12:02AM
The National Retail Federation forecasts that Americans will spend $403.26 to buy gifts for children, parents and other family members
In addition to the $130.43 we’ll spend on ourselves, what we’ll spend money on this year:
$403.26 — children, parents and other family members
$96.75 — candy and food
$68.23 — friends
$46.73 — decorations
$26.52 — greeting cards
$23.39 — other gifts
$21.06 — co-workers
$18.23 — flowers
Source: National Retail Federation
Updated: November 20, 2011 8:54AM
Holiday shoppers will grab everyday deals for themselves and their families at the highest rate ever while they’re looking for the season’s gifts, a survey out Wednesday reveals.
Shoppers say they intend to spend $130.43, on average, on sales of clothes, electronics, home goods and other items for themselves or their families, up 16 percent from last year’s $112.20, according to the National Retail Federation’s 2011 Holiday Consumer Intentions and Actions Survey.
The double-shopping phenomenon started in earnest three years ago, as the recession settled in.
“We first saw a sharp increase in people shopping for themselves in 2008, when the average jumped to $106 on non-gift items from $97 in 2007,” said Kathy Grannis, the retail group’s spokeswoman. “Earlier this year, shoppers pulled back on spending as employment stalled and the stock market started dropping. They are now looking for deals to replenish what they’ve needed all year long. This could mean that a mom heading out on her weekly errand sees discounts on boys’ denim and women’s turtlenecks, and she throws them in the shopping basket because she knows that those prices will be the best she has seen.” The survey has been seasonally adjusted to reflect changes since 2004.
Indeed, shoppers are spending less on holiday items and fewer are celebrating Christmas, the survey showed.
Shoppers intend to spend an average $704.18 on holiday gifts and seasonal items, down 2 percent from last year’s $718.98.
The biggest portion of that spending — $403.26 — will be spent on kids, parents and other family members. Shoppers also plan to spend an average $68.23 on friends, $21.06 on co-workers and $23.39 on other gifts, plus $46.73 on decorations, $26.52 on greeting cards, $96.75 on candy and food, and $18.23 on flowers such as poinsettias.
The numbers reflect 90.5 percent of respondents who plan to celebrate Christmas, down from 96.1 percent seven years ago.
The number celebrating Hanukkah has risen to 5.4 percent this year from 4.6 percent in 2004, and the number recognizing Kwanzaa has increased to 2 percent this year from 1.6 percent in the same period.
Discount stores remain the most popular shopping destination (66.1 percent), followed by department stores with 56.9 percent, the survey showed.
Total retail sales are still expected to increase this holiday season — up 2.8 percent by the retail federation’s forecast — to a total $465.6 billion based on gift and non-gift spending and adjusted for inflation. That compares with a 5.2 percent jump in holiday spending in 2010 from 2009. Other forecasts range from a 2.2 percent gain from the International Council of Shopping Centers to a 3 percent increase forecast by Chicago-based ShopperTrak.
The National Retail Federation’s survey found other trends, ranging from an egalitarian online shopping experience to continued increases in gift-card acceptance.
By the numbers:
46.7% — will buy online. That compares with 38.3% seven years ago.
36% of holiday shopping will be done online, whether that’s comparing prices, researching products or buying merchandise. That compares with 28.9 percent in 2006.
Men will do 37% of their shopping online. Women will do 36% of their shopping online.
** The biggest online shopping group comprises 25-to-34 year-olds. Women and men have remained fairly close in their online shopping rates for the past four years. This year, men will do 37 percent of their shopping online compared with 36 percent for women.
57.7% want to get a gift card. That’s a record share and up from 50.2% in 2004.
44.4 percent this year chose CDs, DVDs, videos, videogames and books as gifts they’d like to receive this year versus 53.1 percent seven years ago.
70.5 percent of tablet computer owners plan to research and shop using the tablet.
52.6 percent who own smartphones will research and/or buy merchandise with their phones.