Tuesday, 30 July 2013

Market study Report: Holiday Shopping Market Growth In US - July 2013


Description

Christmas, Hanukkah, and Kwanzaa sales represent 73% of total holiday expenditures. Mass merchandisers and department stores are the retail channels most frequently used for holiday purchases, particularly among blacks and Hispanics. Layaway payment options are experiencing a surge in popularity for these groups, as well as for Millennials. Millennial shoppers, the most avid holiday spenders and celebrators, continue to be financially vulnerable, despite improving macroeconomic conditions. Price sensitivity persists, and retailers are faced with the challenges of showrooming.




Table of Content

Scope and Themes
What you need to know
Definition
Data sources
Sales data
Consumer survey data
Advertising creative
Abbreviations and terms
Abbreviations
Terms

Executive Summary
The market
Increase in anticipated holiday spending for holidays throughout the year
Figure 1: Anticipated total expenditures (select) holidays, 2008 and 2012
Market drivers
Improving consumer confidence leads to increase in holiday spending
Millennials spend for the holidays, despite their economic woes
Multiculturals’ participation in holiday shopping spurs growth
The consumer
Thanksgiving, Christmas most associated with special sales of all product categories
Special sales particularly associated with holidays by younger shoppers
Mass merchandisers, department stores, online-only retailers most favored channels
Most plan their holiday expenses, but few opt to save
Two-fifths purchased gift cards in the past 12 months


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