Independents

Save E-mail Print Most Popular RSS Reprints

Survey: Fewer holiday shoppers to rely on credit

Jewelry choice for 18.4 percent

November 17, 2009

Washington--A quarter of all holiday shoppers will pay for gifts this year with cash, a 9.1 percent increase from last year's 22.8 percent, according to the National Retail Federation's (NRF) 2009 Holiday Consumer Intentions and Actions survey, conducted by BIG Research.

In addition, the survey finds that 42.5 percent of holiday shoppers plan to pay primarily with debit or check cards, a 2.5 percent increase from last year.

Meanwhile, the number of holiday shoppers who will rely on credit cards this year is expected to fall 10.1 percent, with 28.3 percent of people using credit this year compared with 31.5 percent a year ago.

Just four percent of holiday shoppers plan to pay for most gifts with personal checks.
 
"With many holiday shoppers focused on spending within their limits, it's no surprise that fewer people will be relying on credit cards this year," NRF President and Chief Executive Officer Tracy Mullin said in a media release. "If the strong promotions and sales we've seen the last few weeks are any indication of what retailers are planning, shopping on a budget this year will not be a problem."

Despite the talk of low inventory, many shoppers seem to be slow to head to the stores this holiday season. According to the survey, 52.4 percent of consumers have not yet begun their holiday shopping, and an additional 21.2 percent said they have completed less than one-tenth of their list.
 
"While many retailers are already aggressively promoting popular holiday gift items, Black Friday might be the tipping point for shoppers this year," Phil Rist, executive vice president of strategic initiatives for BIG Research, said in the release. "Many shoppers are anxiously anticipating the deals and bargains that retailers will unveil in the days after Thanksgiving."
 
Early announcements of planned Black Friday promotions such as 50 percent off of outerwear, $25 designer apparel and $10 toys may have influenced what people plan to buy this holiday season. According to the survey, more people plan to buy clothing (58.4 percent vs. 57.4 percent in 2008) and toys (42.2 percent vs. 41.6 percent in 2008) this year. Other items on shopping lists include gift cards (54.3 percent), consumer electronics (28.6 percent), food and candy (27.6 percent), personal-care or beauty items (22.4 percent) and jewelry (18.4 percent).
 
The NRF 2009 Holiday Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the winter holidays. The survey polled 8,692 consumers from Nov. 3-10, 2009. The poll has a margin of error of plus or minus 1 percent.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

More Independents

Study: Jewelers need to raise their digital IQs

A recent technology study that ranked brands by "digital IQ" said that the jewelry category had the greatest number of challenged and feeble players when it comes to areas such as social media and search engine optimization. Read More

RJO members get 'fired up' at buying show
N.J. jeweler, emerald dealer files Chapter 11
More Independents

More Like This

Design Portfolio

Daily News

Get breaking news from the industry's premier information source.
See Sample & Privacy Policy

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Sponsored by:

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement