The U.S. might be pulling itself out of the recession, but many holiday shoppers have yet to get the memo. According to Nielsen’s 2013 Holiday Spending Forecast, nearly 70 percent of shoppers still feel as though the economy is in recession. The public’s feelings about their income and spending ability will have a direct impact on this year’s holiday shopping season.
Shopping Budgets are Down
The National Retail Federation (NRF) is predicting a shopping season full of caution this year. The recent government shutdown didn’t do much to encourage people’s confidence, and nearly 30 percent of people surveyed by the NRF stated that the shutdown played some role in determining what they would spend over the holidays. Nearly 80 percent of people surveyed stated that they planned on trimming their total holiday spending. People looking to cut spending on gifts and other holiday purchases have several ways to do so.
The Early Bird Gets the Deal
At the beginning of November 2013, more than half of those surveyed by Prosper Insights & Analytics for the NRF stated that they had already started their holiday shopping. The number of early shoppers is the highest it’s been in the history of the survey, according to the NRF. Reasons for getting started early include beating the crowds and distributing the holiday budget more evenly.
Retailers have responded to people’s early shopping sprees by offering deals earlier than before. Amazon.com has Black Friday deals running throughout November, for example. Other stores that started offering holiday shopping deals immediately after Halloween included Walmart and Best Buy.
Shopping in Person is So 2009
It’s predicted that more and more people will head online to shop this year, rather than to their local big box store or mall. The NRF’s survey found that people plan on doing almost 40 percent of the holiday shopping online, up from around 38 percent in 2012.
Retailers are increasing the number of deals available to online shoppers and the frequency they offer deals. For example, when ordering from Macy’s, shoppers get free shipping on all purchases of $99 or more all the time. Whether they shop early or wait until Black Friday or Cyber Monday, online shoppers can use sites like CyberMonday.com to learn about deals offered by a wide range of online retailers.
Gift Cards the Way to Go
One gift that people will spend more on this year is the gift card. The NRF Gift Card Spending Survey predicts that the average shopper will spend nearly $165 on gift cards, compared to an average of nearly $157 last year. Gift cards top most people’s lists because they allow the receiver to get something they really want. While just over 25 percent of shoppers surveyed felt gift cards were too impersonal, there are plenty of ways you can add a personal touch to one, according to the NRF. For example, a number of stores let you add video, a picture or audio to the card.
Tech Gifts Might Reign
The NRF also predicts that people will spend more on technology and gadgets this holiday season. According to the foundation’s survey, more than one third of shoppers plan on buying electronics this year, the highest since 2006. Stores such as Best Buy have already leaked some of their Black Friday deals, revealing that they’ll be offering deals on iPads, the Surface tablet and Galaxy tablets.
via Business 2 Community http://www.business2community.com/trends-news/holiday-shopping-2013-expect-0692843?utm_source=rss&utm_medium=rss&utm_campaign=holiday-shopping-2013-expect
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