Holiday Shoppers May Pick Up the Pace This Week

Holiday Shoppers May Pick Up the Pace This WeekSince this has been a "Holiday Shoppers" week for Research Briefs, it's interesting to note that the shopping season has gotten off to a slow start according to the National Retail Federation's 2007 Holiday Consumer Intentions Survey, conducted by BIGresearch. The study shows that 71.4% of consumers have less than ten percent of their holiday shopping completed as of November 12th. Young adults 18-24 are the least prepared with 76.2% of them finished with less than ten percent of their shopping.

NRF President and CEO, Tracy Mullin, says "Good news lies ahead for many retailers whose shoppers have yet to put a dent in their shopping lists..."

According to the survey, 40.1 percent of shoppers will rely on debit and check cards this year with to make purchases, up from 39.1 percent last year. Additionally, about a third 32.3% of holiday shoppers will primarily use credit cards for holiday purchases. Only 5.5 percent of shoppers plan on using their checkbook, and 22.1 percent will use cash.  

With unending options, says the report summary:

  • 57.2% of consumers plan to buy clothing or clothing accessories
  • 57.1% will select books, CDs, DVDs, videos or video games when purchasing gifts
  • 56.6% of consumers say they plan on buying gift cards this year
  • 43.1% say toys
  • 29.2% are planning to buy consumer electronic or computer related accessories

BIGresearch Vice President of Strategy, Phil Rist, says "Retailers have tried to entice consumers into the stores with early sales and promotions... but shoppers are clearly on their own schedule... Because gift cards are never out of stock, consumers feel that they can wait until the last minute to start shopping... Retailers continue to wrestle with the best ways to bring people into the stores early this year."   

For additional information, please visit BIGresearch here.

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