ISCS predicts boost in consumer spending for Holiday ‘17
September 21, 2017,
New York – The International Council of Shopping Centers (ICSC) is forecasting strong consumer spending for this year’s holiday season.
ICSC projects holiday sales will grow 3.8% year-over-year this holiday. Its Holiday Shopping Intentions Survey shows consumers expect to spend on average $728.40 on gifts and other holiday related items.
- 46% of shoppers plan to spend more this holiday season.
- 40% of shoppers plan to buy online then pick up in stores, and 81% of those expect to make additional purchases when collecting their purchases.
- 92% of Millennials plan to shop a physical store, spending an average of $554.40 on holiday gifts and related items. 54% will mostly use debit cards or pay cash.
- 75% of Millennials shoppers plan to spend online at retailers whose stores they also visited and 50% of them will buy online and pick up in-store.
- More than any other age group, Millennials plan to take advantage of discounts on Black Friday (57%).
- ICSC saw an uptick in the number of people planning to shop before Thanksgiving at 66%, with 27% starting as early as August.
“Our annual Holiday Shopping Intentions findings demonstrate that consumers are very optimistic this holiday season and that physical retail remains a cornerstone of the holiday season,” said Tom McGee, president and ceo of the International Council of Shopping Centers.
The ICSC Holiday Intention Forecast Survey was conducted online by Opinion Research Corporation on behalf of ICSC from September 11-14. The survey represents a demographically representative U.S. sample of 2,020 adults 18 years of age and older.
Related Content By Author
Live From New York: Fashion Comes Across the Pond
Home & Textiles Today eDaily