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Holiday shopping predictions

Posted by Michael Bloch in ecommerce (Saturday October 20, 2007 )

The USA holiday shopping season is expected to be a little more subdued this year with consumers increasingly feeling the pinch from high energy and food prices and fallout from the subprime mortgage fiasco. Merchants will need to be on their toes, as more consumers are planning on starting holiday shopping earlier this season.

With many people on tight budgets this year, it’s expected that retailers will be competing even more aggressively on price – a win for consumers, but perhaps thinner profit margins for merchants.

Traditionally, Black Friday, which is the day after Thanksgiving, heralds the official kickoff of the holiday shopping season, but according to a National Retail Federation survey of nearly 8,000 consumers, over 40% of shoppers say they will start holiday shopping *before* Halloween… which is around about… now :)

Online shopping will continue to gain popularity this year with consumers planning to do 30.2% of their shopping online – up from 28.9% in 2006.

Over 50% of consumers surveyed by the NRF have said they would like to receive a gift card or gift certificate, which harks back to what I reported a few days back regarding gift cards. Other popular categories for gifts this year will be (in order of preference):

– clothing and accessories
– books, CDs, DVDs, videos and video games
– consumer electronics
– jewelry
– home decor

The holiday-related spending average is expected to be just over $920, representing an increase of 3.7% over 2006 and overall sales for the season are projected to reach $474.5 billion.

You can read more from the National Retail Federation’s “2007 Holiday Consumer Intentions and Actions Survey,” on Marketing Charts

Related:

Christmas marketing tips



 

 
1 comment for Holiday shopping predictions
  1. Very useful information Michael.

    Anyone selling e-books could also get a lot out of this, as it would seem a good time to start a xmas adword campaign, and maybe a gift voucher button on the appropriate page wouldn’t go astray either.

    Comment by Ern — October 20, 2007 @ 8:09 pm

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