Consumers are in shopping mode despite concerns about the economy: 80% plan to shop both online and in stores, according to a checkout survey conducted by the NPD Group
during the week of November 15.
Only 9% are reluctant to return to stores, and 26% have been looking forward to
it.
Moreover, 65% plan to spend the same or more on holiday gifts as last year. But 84% are eager for deals, and 42% are hunting for early
discounts.
Of the shoppers polled, 69% rate the overall economy as fair or poor, although 65% say their personal financial situation is
good to excellent.
Supply-chain problems remain an issue, with 48% of shoppers saying they could not find a product they sought. And 52% expect
shortages to continue over the holidays.
But 44% say they will buy alternative items if they can't get products they
want.
The big items this year have been apparel (54%), toys (49%), home products (36%),
Looking forward, 46% expect to buy gifts cards and 45% “slightly edged out apparel” as the season progresses.
“The framework of the holiday shopping season has transformed in many ways, but consumers are steadfast in their appetite for normalcy,” states Marshal Cohen, chief retail industry advisor for The NPD Group. “Despite changes happening all around the retail industry, they will
continue to keep elements of the season’s traditions alive.”