Market Research : Americans Could Spend More This Holiday Season, but Later: NPDOctober 26, 2012
Port Washington, NY—The NPD Group, Inc., a market research company, released the results of its eleventh annual survey of consumers’ holiday spending intentions. The study reveals that the majority of consumers intend to spend the same as or more than last year and fewer say they plan to spend less.
U.S. Consumers’ Spending Intentions 2012 vs. 2011
Plan to Spend More 10% 9%
Plan to Spend About The Same 67% 64%
Plan to Spend Less 23% 27%
Source: The NPD Group, Inc./Annual Holiday Survey
“Looking at this year’s responses, I see a light at the end of the tunnel with more consumers telling us they plan to ‘spend about the same’ and less planning to ‘spend less’,” said Marshal Cohen, chief industry analyst, The NPD Group, Inc. “While consumer confidence seems to be up, retailers will still face some challenges. They will need to develop creative ways to lure shoppers into the stores.”
However, NPD expects the holiday shopping season will start later this year, reporting that in 2011 more consumers had started already by now, but this year there will be an increase in the number who begin shopping before Thanksgiving.