NRF Survey Offers Some Holiday Hope
WASHINGTON--U.S. shoppers won't only focus on low prices and basic necessities during the upcoming holiday season, according to the findings of the annual Holiday Consumer Intentions and Actions Survey from the National Retail Federation.
More than three-fifths of the respondents (61.7 percent) said the economy will impact their holiday spending this year, down from 65.3 percent in last year's survey. When asked which one factor will be most important in their holiday shopping, 41.8 percent of the participants said sales or price discounts, and 12.7 percent said everyday low prices. These results were either slightly down or flat with last year, NRF said.
The respondents said they plan to spend an average of $688.87 on holiday-related shopping this year, up 1 percent from last year. "Consumers will still shop with the economy in the back of their minds, but we're starting to see shoppers take baby steps toward a new normal," said Matthew Shay, NRF's president and chief executive officer.
In other survey results, the number of respondents who mentioned customer service as their most important factor rose 90 basis points to 5.3 percent, and those citing quality as the number one factor increase 90 basis points to 12.7 percent. The survey was conducted for NRF by BIGresearch, the market-research firm.