Retailers can expect better returns this holiday shopping season as opposed to last, but not much better, according to a new forecast report.
New York-based research firm GfK NOP LLC released its annual Roper Report on the holiday shopping outlook on Oct. 26, concluding that the average adult consumer will spend a whopping $77 more on gifts this year than he or she did in 2005. The report, which polled 1,000 American adults via telephone on Oct. 7 and 8, also found that online shopping continues to increase, while the purchase of luxury items and gift cards appears to be leveling off from last year’s climb.
The increase in consumer optimism is being attributed to lowering gas prices and an uneventful hurricane season, according to Roper representatives.
The average holiday shopper will spend about $857 on gifts this season. The average man is expected to spend slightly more than the average woman, at $946 and $771, respectively.
Thirty-nine percent of people are expected to shop online this season for at least some gifts, up from 33 percent last year, 26 percent in 2004 and only 20 percent in 2003. Furthermore, 16 percent of Americans plan to do at least half their holiday shopping online, up 3 percent from 2005.
, Jessica Long
