November 29, 2013
According to a recent survey, shoppers are looking for value and kids’ gifts this holiday season, but might get caught short on time. The survey, representing Forest City Enterprises, Inc. centers nationwide, also found:
• 23.0 percent of shoppers expect to spend more on “value brands” this year than last; 13.9 percent expect to spend more on “mid-price” brands; and 12.6 percent expect to spend more on “luxury brands.”
• 32.3 percent expect to spend less on luxury brands, while 11.6 percent and 11.2 percent, respectively, expect to rein in their spending on mid-price and value brands.
Meanwhile, shoppers will be shifting even more of their spending toward children:
• Shoppers expect to spend more on children’s apparel (32.7 percent), accessories (28.7 percent) and toys (26.7 percent) – this year.
• They’ll be trimming spending on fine jewelry (38.7 percent), mobile phones (38.3 percent) and holiday décor (33.5 percent).
“Whether it’s a sign of tight economic times or more wishful and persuasive children, close to one-third of shoppers plan to spend more on children’s categories this year,” said Jane Lisy, SVP Marketing for Forest City. “What your children want takes priority over your personal wishes.”
Alexander Babbage, a leading strategic consumer research firm, conducted the survey of Forest City shoppers’ holiday shopping plans and preferences. With 10,671 completed responses, the margin of error for the study is +/-0.9 percent.
Among other results, the survey found that 91.3 percent of shoppers will use digital, social and mobile tools this year – up slightly from last year. The biggest jump is among those who plan to use a mobile app for price research – 26.2 percent this year, compared with 19.3 percent last year.
But will shoppers get caught short in getting it all done?
“Perhaps most surprisingly,” said Lisy, “the survey pointed out that almost two-thirds of shoppers weren’t aware that there are six fewer holiday shopping days this year!”
For more about the survey, visit www.forestcity.net/HolidayShopping or search #HolidayShopping on the ICSC Twitter feed at www.twitter.com/ICSC.