Survey: Cautious consumers seeking deals this holiday
Home & Textiles Today Staff -- Home Textiles Today, October 9, 2002
Port Washington, NY — Consumers will be waiting for sales this holiday season and doing more spending at discounters, according to a new survey released by The NPD Group.
Nearly half of those surveyed, 49 percent, said that buying on sale is "more important" to them than it was last year. An equal number said that buying on sale is "just as important" as last year. Among women, 40 percent fell into the "much more important" camp, as opposed to 30 percent of men.
Although they're looking for bargains, the majority (69 percent) said they will hold spending at last year's level. Those who said they will cut spending this year amounted to 20 percent.
Value, quality of merchandise and selection were cited as the top three influences on consumers' decisions about where to shop this year.
"Consumers have many options this year," said Marshal Cohen, co-president, NPDFashionworld, a division of The NPD Group, Inc. "Retailers are trying to be leaner with inventories. But will that boost or hinder sales? This remains to be seen."
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