At least one group expects strong holiday sales
by November 2, 2008 5:34 pm 65 views
Not all reports suggest consumers will slow spending this holiday season.
Chicago-based IRI reports a survey in which 74 percent say they will give the same or more gifts this year.
IRI provides consumer, shopper, and retail market intelligence and insights to 95 percent of the FORTUNE Global 500 consumer packaged goods, retail and healthcare companies.
Key survey results of the group include:
• 94 percent state spending time with family is more important than last year
• 80 percent plan a greater emphasis on holiday meals and entertaining over last year
• 65 percent will focus more on religious celebrations
• 63 percent plan to buy as many or more expensive gifts
• 56 percent will take advantage of sales or promotions seen on TV or heard on the radio
• 53 percent will use coupons in newspapers more
• 43 percent will seek out more “2 for 1” and similar promotions
“We expect a consumer backlash this holiday season and a reverse of the misery effect consumers have felt this year,” said IRI Consulting and Innovation President Thom Blischok in a statement. “Shoppers have affirmed loud and clear they will continue their holiday rituals, but will temper their spending through increased use of merchandising and promotions.”
The complete survey report can be found at us.infores.com.