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.”
RetailMeNot: Most employed Americans will shop at work Cyber Monday
Austin, Texas — Nearly nine-in-10 (86%) working consumers plan to spend at least some time shopping or browsing online for gifts during work hours this Cyber Monday. A new RetailMeNot retail trends report also shows that 25% of working Americans plan to actually spend four hours or more shopping online for gifts during work hours that day.
According to the survey, nearly one-in-four (24%) winter holiday gift givers plan to do more online shopping for gifts than they did last year. Parents are more likely than those with children (34% compared to 18%) to plan to do more online shopping for winter holiday gifts than they did last year.
Nearly half (46%) of winter holiday gift givers surveyed are likely to use a mobile device when shopping for the holiday season this year. Males are more likely than females (52% versus 40%) to plan to use a mobile device when shopping for the winter holiday season this year. Parents are more likely than those without children (64% versus 36%) to plan to use a mobile device when shopping for this year’s winter holiday season.
In addition, the top categories typically purchased on Cyber Monday are electronics (62%), entertainment (59%) and apparel (51%).Males are more likely than females (70% compared to 55%) to purchase electronics. Sixty percent of females are likely to purchase apparel versus 41% of males. Almost half of females (48%) are likely to purchase toys compared to 28% of males.
Survey: Six-in-10 consumers oppose Thanksgiving shopping
Foster City, Calif. – Although many retailers will be open for business Thanksgiving, they may wind up angering more consumers than they please. According to a new survey conducted by Prosper Insights for Visa, 62% of more than 4,600 adult U.S. consumers said they would not shop on and are opposed to shopping on Thanksgiving.
Meanwhile, only 10% of consumers plan to shop on Thanksgiving. Other findings show that 37% of consumers plan to shop on Black Friday and 34% plan to shop on Cyber Monday. In addition, 49% will skip this five-day holiday shopping window altogether.