Holiday Retail Sales Likely
to Depend on Perceived “Deals”
Available to Consumers
November 19, 2009 - Consumers who find
perceived deals are more likely to spend the same amount of money this holiday
season as they did in 2008, according to the latest FYi online survey conducted
this month by Michigan-based market research and strategy firm Intellitrends.
The
Intellitrends FYi survey also suggests that a majority of consumers are not
planning to cut back in their spending in the coming weeks. In fact 56 percent
of those surveyed across all demographics indicated that they will spend the
same amount of money as last year but that they will look for better deals
before making final decisions. Another 10 percent expect to spend more than
they did in 2008 while 34 percent anticipate spending less.
Consumers
ages 45-54 are more apt to be searching for special bargains, with 80 percent
in that demographic indicating they will likely spend the same but look for
better deals. The demographic expected to cut back the most on spending this
holiday season is 18-24 year olds (44 percent).
“Retailers
that can help consumers feel like they are getting more for their money have a
better chance of having a profitable shopping season,” said Marlene Stone,
Intellitrends President and CEO. “I think our survey shows that consumers are
expecting to see significant discounts and sales this holiday season and they
will take more time to make a purchase decision to ensure they are getting a
perceived bargain.”
In
light of the highly anticipated deals expected to be available to consumers on
Black Friday and the predicted surge of online shopping, U.S. households were
asked by Intellitrends how important it was to see and compare options in a
store environment rather than purchasing online only. Study results showed that
the in-store experience will still be a key component of the holiday shopping
process for many consumers. This was particularly true with consumers shopping
for apparel (67 percent prefer in-store), appliances (60 percent) and
electronics (59 percent).
Product
categories less likely to prefer the touch and see experience were books,
music, games and toys.
“Online
shopping continues to increase but in some specific categories, the majority of
consumers still prefer the personal experience of going to a store,” Stone
said.
Visit
www.intellitrend.com New Reports for
information on this survey or call 248-922-3344.
The Intellitrends FYi
survey was fielded in early November and surveyed 1,000 U.S.-based consumers
through an online questionnaire. The results are reliable to + 3 percent
at a 95 percent confidence.
About Intellitrends —Intellitrends is a full-service strategic
market vision company dedicated to using market research as the foundation to
focus, and energize strategic marketing initiatives of companies.In addition to Customer Loyalty and Retention
studies, and Competitive Positioning analysis, Intellitrends Market
Experiential studies help companies understand and map the evolving dynamics of
the purchase decision process for their products and services, allowing these
companies to make more profitable business decisions.
Intellitrends
was founded in 1989 by Marlene Stone and is a certified Woman Owned Business. It
is located in Clarkston, Mich. Visit www.intellitrend.com for more
information.
