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Holiday survey: Buyers to spend less, shop later

October 13, 2009

Port Washington, N.Y.--The NPD Group, a leading market research company, has released the results of its annual survey of consumers' holiday spending intentions.

The survey reveals that a greater percentage of consumers plan to spend less this holiday season compared with last year, with almost 50 percent of respondents saying that the state of the economy will have a significant effect on their holiday spending. Thirty percent of respondents indicated they plan to spend less this year, compared with 26 percent who indicated the same for holiday 2008.

"That 4 percent increase is certainly a sign of the times," Marshal Cohen, chief industry analyst of The NPD Group, said in a media release. "On the other hand, that 4 percent is not as dramatic as it could have been. I think consumers will be looking for the right gift, rather than the most extravagant or expensive one. That combined with the soft numbers we are up against from holiday last year, and I think we will see growth, albeit a modest 0.5 to 1.5 percent."

According to the survey, the top five items consumers plan to buy as a gift for the upcoming season are (ranked from one to five): apparel, toys, movies, books and electronics. There was no movement in these categories compared with last year, but accessories--including bags, small personal accessories and watches--shifted up one spot from seventh to sixth this year. Rounding out the top 10 are music, video games, fragrances and food.

They survey centered in one a few different shopping motivations for consumers this holiday. Sixty two percent of survey respondents said value plays a big role in determining what and where they buy. Sixty one percent said a "special sale" would affect their decision, while 50 indicated a "convenient location."

As for when consumers will begin their holiday shopping, the survey points to a later start date. The number of respondents who indicated they would begin their holiday shopping during Thanksgiving weekend or later posted a three percent change, while the number of consumers that said they would begin their shopping in early December or at the last minute experienced an 8 percent change.

The NPD Holiday Survey of Consumer Purchase Intentions was fielded from Sept. 8-15, 2009. A total of 1,995 completed interviews of NPD's online consumer panel formed the basis of the survey's findings.
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