Does your holiday shopping season begin on Black Friday — the day after Thanksgiving? Then you are among the 39% of shoppers who plan to hit the stores that day.
According to the American Express Retail Index on holiday shopping, 54% of respondents said that taking advantage of sales was the most popular reason for shopping on Black Friday. Other reasons include: having the day off; tradition; getting an early start; and better selection.
The survey also cited that 47% of holiday shoppers tend to shop at the last minute, and nearly half of those admitted to shopping for gifts on the night before the holiday. Some even say that they have shopped for gifts immediately AFTER the holiday.
This year, consumers are expected to spend an average of $1,342 on holiday gifts, entertaining, travel and other related expenses, making eight shopping trips to 12 different stores.
If youre an average shopper, you will probably be buying some of these gift items: clothing, CDs, tapes, videos, toys, gift certificates (or giving money), perfume or cosmetics, womens accessories, books or magazine subscriptions, home furnishings and tools.
Electronics are popular gifts this season too, especially computer software, personal/household appliances, CD players and video game systems.
Nearly three-quarters of shoppers will be purchasing gifts for children, probably choosing from these popular toys: Teletubbies, Spice Girls merchandise, Rugrats dolls and toys, Beanie Babies, Tigger/Winnie-the-Pooh items, Star Wars items, Godzilla and action figures.
Some kids can also expect to find the following gifts under the tree: educational toys, books, childrens videos/music, board games and puzzles, dolls or stuffed animals, arts and crafts, video games, sports equipment, computer software, action figures and movie-inspired toys.
The gist of the information provided by the survey is that more consumers will be spending more, and doing it earlier this year.