Consumers Plan to Spend More for Holidays With Tucked Away Money

Consumers Plan to Spend More for Holidays With Tucked Away Money

According to the findings of the latest National Retail Federation 2005 Holiday Consumer Intentions and Actions Survey survey, conducted by BIGresearch, the average consumer plans to spend $738.11 this holiday season, up 5.1 percent from the previous year, and plans to spend an additional $86.62 on themselves.

Tracy Mullin, President and CEO of NRF, said “…consumers plan ahead and budget for the holidays. With extra money tucked away, …shoppers will be hitting the stores and spending…”

According to the survey, consumers will be dedicating the majority of their holiday spending to gifts for family ($421.30), then:

  • $78.99 for friends
  • $21.05 on co-workers
  • $44.16 on gifts for other people, including babysitters, teachers and clergy

Items holiday shoppers will purchase this year include:

  • Decorations ($40.86)
  • Greeting cards and postage ($28.22)
  • Candy and food ($87.75)
  • Flowers ($15.78)

 According to survey results, consumers will spend an additional $17.68 billion on non-gift purchases for themselves or their families this holiday season, with the average male spending the most, $108.87. “Many consumers use two-for-one sales as a great excuse to get a gift for someone on their list and to treat themselves,” said Mullin.

Popular items on consumer wish lists:

  • 55.5 percent of consumers hope to receive Books, CDs, DVDs, videos, and video games
  • 54.4 percent hope to receive clothing or accessories Apparel is also another gift favorite, with this year.
  • 52.3% hope for gift cards
  • 38.4% want consumer electronics
  • 26.4% jewelry
  • 23.3% home décor

 “It is no secret that consumers love to get a good deal,” said Phil Rist, Vice President of Strategy for BIGresearch

  • 37.9% said that sales or price discounts are the most important factor in their decision to purchase from a particular store
  • 23.1 % of consumers chose selection of merchandise
  • 11.0% say quality of merchandise
  • 6.5% pick location
  • 3.7% appreciate good, knowledgeable customer service 

Consumers have already gotten a head start on their holiday shopping

  • 15.3 percent of consumers started their holiday shopping before September with an additional 6.3 percent starting last month
  • 18.5 percent of consumers say they planned to begin in October
  • 37.4% will begin their holiday shopping in November
  • 22.5% will wait until December

Popular shopping locations include:

  • 71.4% of consumers plan to shop at discounters
  • 59.4% at department store
  • 46.5% at specialty stores such as clothing, toy or electronics
  • 47.4% at  grocery stores
  • 42.6% of consumers plan to purchase gifts online


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