ICSC holiday forecast and consumer spending survey is optimistic for 2015.
The International Council of Shopping Centers has released its 2015 holiday forecast and consumer spending survey, and the results could have retailers basking in the sun.
According to the results of the survey, 90 percent of Americans are planning their holiday purchases this year, an increase from 82 percent last year. This also signals that more shoppers are starting on their holiday lists earlier this year.
“With gas prices and unemployment down, and housing prices up, holiday shoppers are heading into the season with increased confidence in their spending power,” ICSC Spokesman Jesse Tron said in a statement. “While certain headwinds exist, such as uncertainty in global financial markets and minimal wage growth in the U.S., the positive macroeconomic trends are likely to win out and propel retail sales throughout the holiday season. As a result, it appears to be shaping up as a solid season for retailers, and if ICSC’s forecast holds, one that would better the average of the previous ten seasons by 1.5 percentage points.”
The study also found that 80 percent plan to spend the same or more this year, and predicts that shoppers will spend an average of $702 this season, up from $677 in 2014. Shoppers will split their holiday spend with $575 on holiday gifts and $127 on decorations, greeting cards, clothing, and other holiday-related items. And in a significant blow to online retailers, 95 percent of Americans plan to do their holiday shopping at brick-and-mortar stores.
Shoppers indicated their preference for brick-and-mortar because:
The top five categories for U.S. shoppers this holiday season are traditional gift cards (54 percent), electronics/devices (51 percent), apparel and footwear (49 percent), toys and games, not including apps or video games (42 percent), food like chocolates, popcorn and food baskets, and beverages/alcohol (34 percent).
The 2015 ICSC Holiday Shopping Survey was conducted Opinion Research Corporation from September 29 to October 1. The online survey included a nationwide demographically representative sample of 2,001 adults 18 years of age and older.
