SCHAUMBURG, Ill. — New research from Nielsen shows consumers will be practical and focused on value during the upcoming holiday season, which bodes well for Target as one on the nation’s leading toy retailers and top destination for gift givers.
According to the survey, only 5% of U.S. households plan to spend more this year on holiday shopping, with households earning $100,00 or more leading the way. Among this group, online merchants, club stores and dollar stores will most likely be the places they go to shop. Among households making $50,000 or less, consumers plan to increase their spending at dollar stores, online merchants and supercenters.
When consumers do spend money, according to the survey, 31% plan to buy value brands.
Nielsen said it expects gift cards, technology, vacations and toys to be top performing categories this season.
“Nielsen expects the vast majority of consumers to be increasingly practical and focused on value this season,” said James Russo, VP global consumer insights, Nielsen. “More affluent consumers will drive spending, particularly in entertainment, vacations, toys and technology.”