Holiday Gifts Likely To Be For Home Use
Call it nesting, or pure practicality, but American consumers are more likely to be spending money on holiday gifts that can be used at home rather than luxury items.
According to research by the International Council of Shopping Centers and Goldman Sachs, clothing, toys and games continue to lead the pack as the most popular gift items. But after that, gifts that could be used within the home -- such as DVDs, housewares and consumer electronics (particularly electronic book readers) -- showed the most category growth over 2008.
"The real story is the shift towards nesting gift items -- those that are either for, or for use within the home," said ICSC chief economist Michael P. Niemira, in a statement. "It keeps with the trend we have seen over the course of the recession, that people are spending more time at home -- eating in, renting movies, etc. -- and purchasing gifts that make this practice more enjoyable seems to be garnering increased interest."
The ICSC's research is just another in a long line of consumer surveys showing that practical gifts are in for 2009. A recent survey from the National Retail Federation and BIGResearch found that more than a third (36%) of all consumers say they will be shopping for more practical gifts this year.
Even the toys are moving more toward the practical. According to Harris Interactive, of the 54% of Americans who will buy toys as gifts this year (up from 47% last year), books are the most popular items (45%), board games, dolls and crafts were also popular items, each garnering interest of about a third of consumers.
While video games remain popular (36% said they will be buying such games for the holidays), the more expensive consoles the games run on -- Wii, Xbox and PlayStation -- will not move as quickly, with only 12% saying they will purchase a console this year.
Recent Marketing Daily Articles
-
Hasbro Launches Nerf Dog June 20, 12:04 a.m.
Hasbro Inc. is partnering with Gramercy Products, Inc. to launch Nerf Dog, a full range of ... -
Affluent Consumers Continue Spending June 19, 4:53 p.m.
Attribute it to an improving economy, or simply fatigue in behaving a certain way, but the ... -
Voss Water In Socially Driven Summer Campaign June 19, 3:27 p.m.
Voss Water has launched a social-plus-retail summer campaign designed to engage consumers and strengthen relations with ... -
Chevy Back With MOFILM For Oscars June 19, 3:22 p.m.
Chevrolet has tied a five-year knot with the Oscars, with attention on independent filmmakers. Chevrolet’s theme ... -
Nissan Opens Door To Versa Launch June 19, 2:18 p.m.
Nissan’s new Versa Note is a "A Door to More" in the automaker’s campaign for the ... -
Saks Fifth Avenue Rolling Out New Campaign June 19, 11:12 a.m.
Saks Fifth Avenue is debuting a new marketing campaign, which it hopes will sell shoppers on ... -
JetBlue, Marriott Top Their Industries June 19, 12:23 a.m.
Just as the summer travel season heats up, the American Customer Satisfaction Index (ACSI) has released ... -
Evian Launches Wimbledon 'Wiggle' Social Effort June 18, 5:20 p.m.
<Evian -- no slouch at driving buzz during the Wimbledon tournament -- has come up with ... -
GMA/PwC Report: CPGs' Growth Slows Amid 'Rules' Shift June 18, 3:56 p.m.
Net sales growth rates for consumer packaged goods (CPG) companies slowed last year amid challenges including ... -
Industry Is Expanding In Advertising, Social June 18, 12:29 p.m.
Retailers are planning to spend big on more stores, digital technology and marketing initiatives in the ...
Be the first to comment on "Holiday Gifts Likely To Be For Home Use "
Leave a Comment