With the holiday shopping season about to hit warp speed, most shoppers say they will spend about the same as last year, according to the annual holiday purchasing survey conducted by the National Retail Federation and Prosper Insights & Analytics. However, young adults (18-24 years old) indicate they’ll be spending more this year. Here are highlights from the survey.
Thanksgiving holiday weekend shopping forecast
Of those who plan to shop during the long Thanksgiving holiday weekend, here are the days they plan to shop.
20% (32 million) | Plan to shop on Thanksgiving Day
70% (115 million | Plan to shop on Black Friday
43% (71 million) | Plan to shop on Saturday
21% (35 million) | Plan to shop on Sunday
48% (78 million) | Plan to shop on Cyber Monday
76% (54 million) of Saturday shoppers
say they will shop that day specifically to support
Small Business Saturday.
Most holiday shoppers anticipate spending about the same as last year
Among all consumers
54% | Percentage of all consumers who say they will spend about the same as last year
24% | Say they will spend more than last year
Among younger consumers
46% | Percentage of shoppers ages 18-24 who say they will spend more than last year
39% | Shoppers ages 25-34 who say they will spend more than last year
What gifts are shoppers planning to give?
61% | Clothing and accessories
59% | Gift cards
44% | Books, music, movies or video games
41% | Toys
34% | Food or candy
29% | Electronics
Holiday gift card purchasing plans
4 | Shoppers plan on purchasing an average of four gift cards
$45 | The average value of gift cards purchased
$27.6 billion | Estimated total value of gift cards
36% | Percentage of buyers who plan to purchase a restaurant gift card
33% | Department store gift card
24% | Visa/Mastercard/American Express gift cards
21% | Coffee shop gift card
18% | Entertainment gift card
Popular toys this year
Barbie 2017 Holiday Doll via Mattel
Top toys wanted by girls
19% | Barbie
13% | Traditional dolls
Other top toys that are popular for girls this season: Hatchimals, Fingerlings/LEGO, American Girl/My Little Pony, Shopkins, Disney Princess, Baby Alive/LOL Surprise dolls and Disney Frozen.
Top toys wanted by boys
16% | LEGOs
7% | Video games
Other top toys that are popular for boys this season: Cars and trucks, Hot Wheels, Star Wars-related items, Nerf, Nintendo Switch, Xbox One, drones and Paw Patrol.
How will shoppers pay for purchases this year?
40% | Percentage of shoppers who plan to buy with credit card (up from 39%)
40% | Plan to pay with a debit card (same as last year)
18% | Plan to pay with cash
2% | Plan to pay with checks
36% | Plan to pay with Pay Pal
7% | Plan to pay with Apple Pay
4% | Plan to pay with Samsung Pay
4% | Plan to pay with Google Wallet
3% | Plan to pay with Venmo
Feature photo via istock