NRF: holiday spending solid
Home & Textiles Today Staff -- Home Textiles Today, December 14, 2007
Washington – While holiday spending in November and early December remained solid, the National Retail Federation (NRF)’s researcher today noted that its confidence numbers for December were the worst the organization had seen in five years.
“The consumers are under stress,” said Phil Rist, vp of strategy for BigResearch during a conference call yesterday afternoon.
BigResearch, which polls more than 7,000 consumers monthly, did say however that December confidence numbers were consistent with November – which proved to be a healthy shopping month.
Looking at the final 12 days of holiday shopping, Rist on Dec. 13 presented research about the top three gift categories consumers plan to purchase: apparel 57.7%, entertainment/books/music, 57.1%, and gift cards 56.6%.
Gift cards have also allowed businesses that are not traditionally holiday merchandisers to grab a share of holiday money, he said. Indeed, while 38% of consumers plan to purchase department store gift cards – the leading gift card category – 27% plan to purchase restaurant gift cards.
Only 15% of consumers plan to purchase discount store gift cards – No. 5 on the gift card list. Home improvement store gift cards came in at No. 10, and home furnishings stores did not make the top 10 list for gift cards.
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