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The NPD Group, a leading consumer and retail information company, has released the results of its Annual Holiday Survey for the 2006 holiday shopping season. "Overall," Marshal Cohen, chief industry analyst, The NPD Group, says "I think this holiday shopping season will look much the same as last year with growth, but modest growth." The biggest beneficiaries of this growth will be in the retail categories that contain "traditional" gift items. Gifts like: clothing, toys, books, music and fragrances look to be gaining traction. NPD's survey respondents said they intend to spend more money on clothing and toys this year versus last year. Spending Intentions - '06 vs. '05
"This season will be marked by the return of shoppers to the 'tried and true' gift items. Things like clothing and toys should see gains," Cohen says, adding, "Consumer Electronics will make a contribution to this season's growth with notebooks and flat-panel televisions doing well."
Where is this holiday shopping going to take place this season? Consumers tell The NPD Group that they expect to shop primarily at Discount/Mass Merchant retail outlets. Retail chains and online shopping round out the top three places people plan to shop this year. Last but certainly not least, how much do shoppers plan to spend on their holiday gifts? Slightly more than last year: $728 this year vs. $681 in 2005. That's a similar gain to what was seen in 2005 which was up over 2004 from $655. When asked about the price of gas and its impact on holiday shopping Cohen says, "It's interesting to note, that rising gas prices and their impact on holiday shopping was all the talk earlier this year ...looks like that's not going to happen. Gas prices are falling and 74% of our panelists say that gas prices won't dampen their spirits and they will Shop - On!" Source: The NPD Holiday Survey was fielded September 12 to September 19, 2006. The findings presented here are based on information from 1,823 completed interviews of NPD's online consumer panel About The NPD Group, Inc.: The NPD Group is the leading provider of reliable and comprehensive consumer and retail information for a wide range of industries. Today, more than 1,600 manufacturers, retailers, and service companies rely on NPD to help them drive critical business decisions at the global, national, and local market levels. NPD helps our clients to identify new business opportunities and guide product development, marketing, sales, merchandising, and other functions. Information is available for the following industry sectors: automotive, beauty, consumer technology, entertainment, fashion, food and beverage, foodservice, home, software, sports, technology distribution channel, toys, and wireless. |
On the home front, the NPD survey shows consumers are planning to spend more on everything from Home Decor to Home Improvement to Home Appliances. Cohen says, "Despite recent economic news about falling home values, I think consumers will look to 'feather their nests' this season. Everything from small decorative items to small and large domestic appliances will contribute to growth in this area." The NPD Holiday survey shows 18.5% and 13.5% of holiday shoppers expect to shop for Home Decorations and Home Improvement, respectively, this holiday, which puts them just below the top 10 Categories of expected purchases for 2006.