Apparel, Gift Cards Top Consumer's Holiday Shopping List
As consumers hit the stores and their favorite websites looking for holiday gifts for loved ones, many will be shopping for apparel and gift cards, according to a new report from the National Retail Federation.
The survey of more than 8,100 adults conducted for NRF by Prosper Insights & Analytics, revealed that more than half of respondents (54%) will be buying clothing as holiday gifts with 44% saying they will be seeking out gift cards to fill their holiday gift-giving needs.
“The holiday season is in full swing and while many consumers have made progress on their shopping lists, most shoppers will make the majority of their purchases over the coming weeks,” said Katherine Cullen, vice president of Industry and Consumer Insights with the NRF. “Whether shoppers are looking to spread out their purchases or seeking the best deals, retailers are ready to help consumers with all their shopping needs this holiday.”
Other popular gift choices for shoppers include toys (36%); books, video games, and other media (31%); and food/candy (30%).
The internet remains the most popular source for gift ideas, with 44% of shoppers using online search for inspiration. Other top sources include friends and family (36%), in-store (30%), and wish lists (26%).
“Younger shoppers continue to embrace social media for gift ideas, with those between the ages of 18-24 more likely to find inspiration through platforms such as TikTok (28%) and Instagram (27%),” said Phil Rise, executive vice president of Strategy with Prosper. Prosper. “These shoppers are also more likely than any other age group to purchase jewelry, with 30% planning to gift these items.”
The survey also found that most shoppers will embrace the spirit of giving back this holiday season, with two-thirds (66%) planning to engage in at least one charitable activity such as donating money or items this season.
As with recent years, gift cards remain a popular holiday purchase, and overall spending is expected to reach $28.6 billion compared with $29.3 billion last year. Similar to previous years, the average shopper will purchase three to four gift cards and spend $51.18 per gift card ($170.48 per person).
Restaurants are the most popular gift card category (30%), followed by department stores (25%), bank-issued gift cards (25%), and coffee shops (22%).
NRF has forecast that holiday spending is expected to reach record levels during November and December and will grow between 2.5% and 3.5%, totaling $979.5 billion to $989 billion.
An earlier NRF survey found that holiday shoppers are expected to spend a record $902 per person on average across gifts, decorations, food, and other key seasonal items. Of the amount shoppers plan to spend, approximately $641 is on gifts for family, friends, co-workers, and more.
