Consumers will spend an average of $1,007 during the holiday season, up 4.1 percent from 2017, according to an annual survey by the National Retail Federation and Prosper Insights & Analytics. Consumers are expected to spend an average of $215 on non-gift holiday items, including food, and 44 percent of holiday shoppers will shop in grocery stores. An equal number, 55 percent, will shop online and in department stores while 51 percent will go to discount stores.
"The holidays are just around the corner and consumers are ready to shop," NRF President and CEO Matthew Shay says. "Confidence is near an all-time high, unemployment is the lowest we've seen in decades and take-home wages are up. All of that is reflected in consumers' buying plans. Retailers expect strong demand this year, and are prepared with a wide array of merchandise while offering strong deals and promotions during the busiest and most competitive shopping season of the year."
Related: Shoppers to Spend More This Holiday Season; Half of Holiday Shoppers Look to 'Trade Up' to Premium.
from Specialty Food News https://ift.tt/2O8H7b9
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