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U.S. Shopper’s Average Holiday Spend Forecast to Rise 1%

Nov 19, 2015 4:17 AM   By Rapaport News
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RAPAPORT... The average U.S. shopper will spend $462.95 on gifts for family members this holiday season, a 0.9 percent increase over the expense last year, according to the National Retail Federation and ShopperTrak.

Buyers will spend $131.59 on non-gift items for themselves or others during the period, up 4.1 percent on 2014, according to NRF data.

The survey also shows a difference in approach between the so-called ‘millennials’, 82 percent of whom say word-of-mouth plays a key role in buying decisions, and the generation popularly known as ‘Baby Boomers’, who allow someone else’s views to influence their purchases 52 percent of the time. That said, the disparity between the two methods to online product research is slim, with 90 percent of younger people looking up purchase ideas on the web, compared with 86 percent of Baby Boomers.

Of millennials, 35 percent research products online while in store, compared with 15 percent of Baby Boomers. The younger generation tends to put an emphasis on technology in making shopping experiences frictionless and care greatly about price, whereas seniors put a premium on customer service and are more concerned about style, the survey points out.
Tags: holiday season, Rapaport News, retail, shoppertrak
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