Josh Elledge - Chief Executive Angel
Holiday spending. How do you measure up?
National Retail Federation: Holiday Spending Estimates…
- Based on research, the National Retail Federation calculated that the average holiday spending total will land within a few dollars of the total from 2014 – at $805. Interestingly, this is the highest estimate since they started surveying these numbers 14 years ago.
- Another survey high is that families will spend over half that $805 total, an average of $462, on each other – or other family members.
- One more significant tidbit is that 55% of people plan to splurge on themselves this year, to the tune of about $131, up from last year’s splurges.
- So what are these higher numbers telling us? Well, of course retailers are pleased. That’s what they hope for.
National Retail Federation President and CEO Matthew Shay shared some thoughts about holiday spending… he said,
“Despite the challenges that still exist in our economy, it looks as if consumers are eager to celebrate the holidays with friends and family this year.”
Shay also attributes a healthy portion of this holiday spending eagerness to online shopping trending more and more. He added that, in an effort to attract all shoppers – from the extremely price sensitive to the online millennial, retailers are offering exclusive incentives, low prices, and price-matching, along with free shipping and free in-store pickup offers.
The data backs up Shay’s summation. Online shopping is expected to be up over 44% over last year, with nearly half of all shopping being done online. Just like the spend total expectations, this is the highest expected number of online shoppers since NRF first began surveying online shopping 10 years ago.
If that $805 total holiday spending got your heart rate up, don’t panic. Just as we’ve encouraged you for a long time, use the power of the internet, use store apps, use your mobile device – all to your advantage. Compare prices store-to-store, get deals and coupons – even on the go – activate available rebate savings and take advantage of store incentives.
Just by taking a few minutes to get in on the best deals, use available coupons, and activate easy rebates and store incentives, you can come in much lower than that $805 price tag for your holiday shopping.
