2009.10.21
Top 10 holiday spending trends
Yesterday, I listened to a conference call with the National Retail Federation and BIG Research. It was a discussion of some of the spending trends that we're likely to see or take on ourselves this holiday season.
The NRF reported yesterday that the average consumer will spend $682.74 on holiday purchases this year, which is down from $705.01 in 2008.
For a run-down of the NRF's projected top 10 trends for the holidays, click here to read the organization's blog.
Some of the trends that I think are most interesting from this list are that greeting card spending is expected to be steady this year, alongside purchases of candy and food (including restaurant gift cards and gift certificates).
Also, 11 percent of people say they will buy Christmas gifts at thrift stores or resale shops. This is a new and obviously important category in the consumer survey this year, according to the NRF.
I guess we're just cheap, we don't plan on spending anywhere near that much over the holidays on holiday-related exoenses...maybe 1/3 that at most. But then again, we don't really do a lot of the material consumerism stuff anyway, we buy what we need when we need it, don't buy stuff when we don't, and try to use things for as long as humanly possible...and fix it if we can. We don;t do much for the economy, but our wallets look better come January 1.
Comment by Other John — October 21, 2009 @ 2:25 pm
We decided to only buy for the kids this year--no grown ups. That's going to dramatically decrease my spending:)
Comment by Dana — October 22, 2009 @ 1:03 pm
A lot of it depends on family situation. People with younger children probably spend more. People with large families (lots of uncles, aunts, & cousins) probably spend more. People who have adult children, no grandchildren, or who are unlikely to see their relatives more than once a year, will spend less.
One thing seems to be common - EVERYONE has cut back. In my mind, that's a good thing. spending a Sunday afternoon with someone is far more valuable than giving them a (virtual) throwaway $20 token gift. Give them a 'gift certificate' for a cookout at your place in the spring. Give them a 'free token' for an afternoon on the Parkway with you. Bake them a cake. Lots of inexpensive ways to express your sentiments without just blowing cash needlessly...
Comment by abdnva — October 22, 2009 @ 6:57 pm