NRF: holiday spending solid

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.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!