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"My earlier forecast of 3.2% still looks good
after two lackluster weekends of Christmas gift buying. This
lack of any hot products or toys still weighs heavily on
shoppers who do not need to spend more this Christmas."
Britt Beemer, America's Research Group
| 32.4%, are not impressed with the level
of Christmas decorations in retail stores this Christmas |
America's
Research Group (ARG) conducted 800 consumer interviews on Sunday December 5,
2004 to gauge Holiday shopping patterns versus last year.(error factor of +/-4.3%.)
(With last year having one less weekend, ARG
compared this weekend to the same weekend in 2002.)
Highlights
In 2002 34.5% shopped first at Wal-Mart over the weekend compared to only 20.7%
this year.
Shopping levels over the weekend were lower typically 58% to 48% of Americans
shop this first weekend after Thanksgiving, but this year only 46.5% took to the
busy streets to shop for Christmas gifts.
Electronics are the surprise of Christmas gift giving this year when asking
shoppers what were their top three gifts they were giving this 28.1% said
electronics compared to 21.9% in 2002.
Shoppers are not splurging on themselves like they have in years past. Only
36.9% have bought something nice for themselves compared to 42.8% in 2002.
There is still a lot of shopping to be done since only 22.3% are finished or
nearly finished this year compared to 26.0% who were basically done in 2004.
Of those 30% of Americans who are waiting until Christmas Eve to finish their
shopping, 66.2% are waiting for big discounts and big sales so they can stretch
their gift giving.
Only 19.5% have not stayed within their planned Christmas budget compared to
17.9% in 2004.
Last year nearly half of America gave gift cards, but 10% of America is still
unsure whether they will again this year.
Still one in three, 32.4%, are not impressed with the level of Christmas
decorations in retail stores this Christmas.
Only 30.1% of parents have completed their Christmas shopping for their
children.
My earlier forecast of 3.2% still looks good after two lackluster weekends of
Christmas gift buying. This lack of any hot products or toys still weighs
heavily on shoppers who do not need to spend more this Christmas. The big
surprise question of Christmas is Wal-Mart’s steep decline in shopping levels.
They will need to see big shopping levels the last two weekends for them to hit
their modest 2% to 4% sales forecast.
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