According to the annual holiday survey conducted by Prosper Insights & Analytics for the National Retail Federation (NRF), consumers say they will spend an average $967.13 this year – 3.4% more than last year. The NRF predicts that holiday retail sales in November and December this year will be up 3.6%-4% for a total between $678.8 billion and $682 billion.
For the first time in survey history, online will be the most popular shopping destination this year, cited by 59% of consumers. Most online shoppers (94%) will take advantage of free shipping.
For the eleventh year in a row, gift cards remain the most popular items on wish lists, requested by 61% of those surveyed. Jewelry was cited by 23% of respondents.
NRF President and CEO Matthew Shay said: “With employment and incomes increasing, consumers are more confident this year and that is reflected in their buying plans for the holidays”.
