News

Survey: Consumers saving up for the holidays

BY Gail Hoffer

NEW YORK — Consumers are planning ahead for the holidays, with 51% saying they have set aside the cash needed to complete their shopping lists, according to Accenture’s annual consumer holiday shopping study.
 
The Accenture holiday shopping survey shows that consumers are expected to spend an average of $582 on holiday shopping this season, and 23% plan to spend more than $750. Half (52%) expect to increase their spending by $250 or more. However, only 5% say they expect to be “extravagant” in their holiday shopping, and only 8% said they would “splurge”.
 
This year’s survey also found that half (52%) of consumers would be willing to shop online on Thanksgiving Day if retailers offer discounts, and 53% plan to shop on Black Friday, which would reverse a three-year trend of declining interest in Black Friday shopping indicated by Accenture’s previous surveys. In 2011, the survey showed that only 44% of respondents were interested in shopping on Black Friday, down from 47% in 2010 and 52 percent in 2009.
 
“The U.S. consumer refuses to be counted out and is entering this holiday season better prepared and more willing to open his or her wallet,” said Chris Donnelly, managing director of Accenture’s Retail practice. “Self-sacrificing will be down and spending will be slightly up, however, our research also shows that shoppers will remain disciplined in their spending. They will have a desire to maximize the value of their dollar and a hunger for discounts, which will put pressure on retailers’ profits and margins. Retailers need to focus on creating in-store excitement, providing standout products and services, and delivering a seamless experience regardless of which shopping channel the customer uses.”
 
In order to find the best deals, many shoppers (56%) admit that they will likely to participate in “showrooming” this holiday season, which means that after seeing a product in a physical store, they would search online for the best price and then purchase online. Twent-seven percent of these same shoppers say they would likely make the purchase online, using their smartphone or tablet, while they are still out shopping.
 
Accenture’s survey offers evidence that pressure on consumers’ finances may be easing as fewer people are planning to cut back on spending for themselves (40%, compared with 46% in 2011 and 52% in 2010).

Further, out of the 63% of consumers who expect to spend the same on their holiday shopping this year, the survey indicates a more positive outlook than last year. Twenty-four percent of those consumers say they are spending the same because living expenses have increased, compared with 34% in 2011. Also, fewer consumers have concerns about the economy (23%, compared with 30% in 2011), and fewer believe that they have less discretionary income this year (30%, compared with 34% in 2011).
 
Discounts and promotions on holiday gift items remain a driver for the vast majority of shoppers, cited by 82% as important, a slight decrease to the 93% who said the same in 2011. Three quarters of respondents (78%) say that at least half of their holiday shopping purchases will be discounted items, and half (50%) will be looking for a discount between 20% to 40% off the original product price.

Other results from the survey include:

  • Tablets and smartphones will be used by 25% of consumers to buy holiday gifts;

  •  

  • One-third (34%) of respondents say they will likely shop on "Cyber Monday;"

  •  

  •  Three quarters (75%) of shoppers say they will buy gifts at discount retailers; and

  •  

  •  Nearly one-quarter (23%) of U.S. consumers plan to shop between Black Friday and the end of November.

 

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

New Polaroid technology turns digital images into artwork

BY Rebecca Haughey

BOCA RATON, Fla. – Polaroid today announced the launch of the Polaroid Fotobar online store — PolaroidFotoBar.com — which offers an easy process to turn digital pictures into museum-quality art.

"With an estimated 1.5 billion photos taken each day, everyone captures the perfect moment that should be displayed on the office or living room wall," said Cheryl Zatz, VP marketing at Fotobar. "With Polaroid Fotobar, those special memories can be made into something exceptional."

The patent-pending feature Fotomail allows users to upload images captured on their smartphones and cameras onto the site. The photos are then able to be customized online; users can adjust such photo-effects as contrast, red-eye correction, brightness and filters. Fotomail works with photos posted on Facebook, Instagram, Flickr and Picasa.

Customers can then choose from a variety of high-quality art formats and mountings, including framed, matted, canvas, metal, award and poster products. All items are made in the United States and can be shipped for free within the continental United States. Customer support is also available.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Tide introduces detergent for sports apparel

BY Rebecca Haughey

TORONTO – Tide has introduced Tide plus Febreze Freshness Sport, a new detergent designed to remove tough stains and odors from sports apparel.

"In a recent survey commissioned by Tide, two-thirds of Canadians surveyed said sweat stains and smell were the most difficult challenges they faces when cleaning their active wear — even over hard-to-remove stains like grass," said Gord Meyer, marketing director for P&G Canada.

Tide plus Febreze Freshness Sport leaves active wear smelling fresh, eliminating the need to purchase specialty products or launder active wear separately. Additionally, the detergent uses technology that releases freshness as athletes move.

Tide’s survey also revealed that 40% of Canadian adults are active three or more times per week. To celebrate these everyday athletes, Tide Sport and KidSport Canada are partnering to encourage Canadians to stay active by donating 4,000 bottles of Tide plus Febreze Freshness Sport to families across the country.

Tide plus Febreze Freshness Sport will be available nationwide in Canada for the suggested retail price of $8.99 for 30 loads and $15.99 for 60 loads, respectively.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?