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the holiday outlook isn’t as bleak as we might think

U.S. consumers are more optimistic this holiday season than last, but are still making their holiday spending plans with caution in mind. These are some of the key findings from research firm Deloitte’s 24th Annual Holiday Survey of retail spending and trends.

More than half of respondents, 54%, believe the economy will improve in 2010, compared with 28% who thought the economy was heading for improvement last year. In addition, 51% of respondents plan to spend the same or more on the holidays this year, compared to 41% last year.

2009 holiday spending trends show that gift purchases will drop while other holiday-related purchases will rise. Consumers plan to spend an average of $452 on gifts this year, down 15% from $532 in 2008. However, consumers plan to spend an average of $1,145 on non-gift holiday spending such as socializing away from home and decorations, up 16% from approximately $985 in 2008.

Despite rising economic optimism, 66% of consumers still plan to shop differently this holiday season, with 74% intending to buy items on sale, 57% planning to buy lower-priced items, and 54% planning to use store coupons. Not surprisingly, discount stores were the most popular holiday shopping destination, favored by 59% of consumers. Following discount stores in popularity were online retailing (42%), the combined electronics office supply and computer store category (26%), and department stores (23%) .

2 responses to “the holiday outlook isn’t as bleak as we might think”

1. bonnie said on 11.02.09 at 5:59 pm:

   This is good news folks!

2. J. said on 11.06.09 at 2:07 pm:

   and as the economists are wont to say: This too will pass.

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