A Look into Holiday Spending
According to the National Retail Federation’s (NRF) recent survey of over 7,400 holiday shoppers, young adults from ages 18 to 24 are expected to increase their spending this holiday season. On reason being that this age group has a tendency to conduct prior research on gifts and is ready to buy during the holiday season.
Over half (61%) of shoppers will be gifting clothes and accessories and 44% will purchase entertainment materials (books, movies, music, and video games). Traditional toys like Barbie’s and Lego’s are at the top toys for kids this year.
This holiday season shoppers will buy an average of 4 gift cards to various restaurants, department stores , pre loaded cards, coffee shops, and entertainment.
The NRF added a new question to this year’s survey about how many shoppers plan on donating this holiday season. Almost 40% plan on donating this holiday season with 80% saying it will not affect how they much they spend overall.
You can read the full survey here.