Families Expect to Spend $646 on Gifts This Holiday Season

11/1/2013

U.S. families expect to spend $646 on gifts during the 2013 holiday season, up from the $582 they planned to spend in 2012, according to Accenture. More than half of holiday spenders (52%) plan to use cash they have saved specifically to pay for these gifts.

Discounts remain essential. Nearly all holiday shoppers (94%) will factor discounts into their purchasing decisions, and 49% expect at least three-quarters of their purchases will be discounted or sale items.

Nearly two in three shoppers (63%) are likely to participate in “showrooming,” where they go into a physical store to look at a product but purchase online. A similar percentage intend to “webroom,” which means to browse online before purchasing in a physical store.

More than four in 10 (42%) plan to spend at least half of the holiday shopping dollars online, 36% will purchase online but pick up in-store, and 21% will utilize technology that enables them to see up-to-date information on product availability.

Discount retailers are the top destination for shoppers (76%). Gift cards are the top item for shoppers (56%), followed by apparel (54%), toys (44%), and personal electronics (27%). Two in three shoppers (67%) will buy between one and six gift cards this season, and 33% expect to spend $26 to $50 on each card.

SOURCE: Accenture, Alex Pachetti, 1345 Ave. of the Americas, New York, NY 10105; 917-452-5519; alex.pachetti@accenture.com; www.accenture.com. Also, Matt Samuel, Retail, matt.samuel@accenture.com

© 2013 Business Valuation Resources, LLC (BVR). May not be reproduced without written consent of publisher.

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