Survey: Holiday spending looks strong

Philadelphia – Holiday spending looks strong this year, with 85% of U.S. consumers planning to maintain or increase their holiday spending levels from last year. According to a new survey of 2,000 respondents from Pennsylvania Real Estate Investment Trust (PREIT) and Harris Interactive, of those who plan to spend more, 15% plan to increase spending on electronics, 14% plan to purchase more gift cards, 13% will spend more on apparel and 10% will spend more on home goods.

Almost nine-in-10 (88%) of adults said they like to be able to see and touch a product before making their purchase. Fifty-four percent of American adults ages 18-34 expect to continue to enjoy the mall experience during the holidays. Of the adult population, 68% enjoy the mall because it gives them access to multiple stores at once.

More than 175 million U.S. adults (75%) plan to pay more attention to retailer coupons and discounts this year than last and 68% of adults indicated that exclusive in-store promotions motivate them to shop more at physical store locations.

Of those who plan to spend less on apparel/electronics/home goods/gift cards this holiday season Forty-nine percent (49%) say they have less income this year than last. Forty-three percent (43%) want to go into less debt. Thirty-eight percent (38%) are concerned about higher retail prices and 12% are worried about job security. Another 19% fear government uncertainty will harm the economy overall and 10% are worried the government might shut down again.

Forty-four percent (44%) of men ages 18-34 think mall owners should offer more exciting retail stores during the holidays, compared with 23% of the overall adult population. Survey findings indicate that ensuring an exciting retail environment is an increasingly important tool for attracting shoppers.

“Survey findings confirm malls are a central, exciting destination for Americans during the holiday season,” said Joe Coradino, CEO of PREIT. “We are dedicated to creating exciting mall environments and the survey highlights that such unique and engaging retail experiences are a driving force for our consumers.”

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