A new survey suggests that Americans are more willing to open up their wallets than they have in the last few years.
The survey from Accenture shows that 40% of U.S. consumers plan to spend more on holiday gifts this year compared to 2014. Last year holiday retail sales climbed 4% while just 25% of shoppers expected to increase their holiday budget.
This year online shopping is the top choice among consumers. Accenture says 54% of consumers prefer to use a brick-and-mortar retailer’s website, and 65% will employ “showrooming”—the practice of checking items in stores before purchasing online. Just over two-thirds (69%) also plan to go online before making a purchase at the store.
The Accenture Holiday Shopping Survey used an online poll with a sample of 1,537 U.S. consumers.
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The survey also revealed that half of respondents are likely to get a head start on Black Friday and shop on Thanksgiving Day, while 28% believe the time should be spent with family.
The U.S. Commerce Department revealed last week that personal spending increased by just 0.1% in September, the slowest pace since January.
The National Retail Federation believes November and December will produce sales growth numbers that are in line with last years total. It forecasts a 3.7% increase to $630.5 billion.
With big box retailers and many e-commerce platforms relying on Black Friday and other holiday sales to turn a profit, retailers are banking on higher sales.
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Americans Are Ready To Spend This Holiday Season [News Brief]
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