Dive Brief:
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Many more Americans (90%) are planning their holiday purchases this year, up from 82% last year. That means more are starting their shopping earlier this year, according to The International Council of Shopping Centers 2015 holiday forecast and consumer spending survey.
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A great majority (80%) plan to spend the same or more this year, the ICSC found. Shoppers will spend an average of $702 this season, up from $677 in 2014. A whopping 95% of Americans will be heading to a brick-and-mortar store to get their shopping done, according to the survey.
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The top five categories for U.S. shoppers this holiday season are traditional gift cards (54%), electronics/devices (51%), apparel and footwear (49%), toys and games, not including apps or video games (42%), food like chocolates, popcorn and food baskets, and beverages/alcohol (34%).
Dive Insight:
The ICSC provides retailers with one of the more optimistic holiday forecasts, capturing the sense that Americans are starting early in order to afford a boost in spending this year.
“With gas prices and unemployment down, and housing prices up, holiday shoppers are heading into the season with increased confidence in their spending power,” ICSC Spokesman Jesse Tron said in a statement. “While certain headwinds exist, such as uncertainty in global financial markets and minimal wage growth in the U.S., the positive macroeconomic trends are likely to win out and propel retail sales throughout the holiday season. As a result, it appears to be shaping up as a solid season for retailers, and if ICSC’s forecast holds, one that would better the average of the previous ten seasons by 1.5 percentage points.”
A few Americans plan to do their holiday shopping on actual holidays: 12% plan to shop on Thanksgiving Day, and 8% plan to shop on Christmas Eve, while 41% plan to take advantage of Black Friday sales on actual Black Friday.
The 2015 ICSC Holiday Shopping Survey was conducted online by Opinion Research Corporation from September 29 to October 1. The survey including a nationwide demographically representative sample of 2,001 adults 18 years of age and older.
