Deloitte surveyed 933 lower New York state, New Jersey and Connecticut consumers. The poll indicated that consumers will be more willing to spend for the holidays, with 31% of Tri-State consumers saying they would spend more frugally this year, compared to 36% in 2002.
The majority of respondents—54%—said they plan to spend the same amount as they did last year.
“Similar to last year, the focus for consumers continues to be getting more bang for their buck—something that resonates through the survey findings this year,” said Richard Kabobjian, Northeastern managing partner, Deloitte. “For retailers, the critical finding here is a greater overall reliance on convenience in the region…which is borne out particularly within the respondents’ answers relating to the internet channel.”
Of individuals surveyed, 30% said they will choose venues that are the most convenient for them, while only 11% said they will be looking to price, and 18% will choose retailers that offer the best value.
Internet retailers were named the most popular retail source for where survey respondents plan to shop (64%) and where they expect to spend the most money this holiday season (22%). Department stores and discount department stores came in second and third, respectively, of where individuals plan to shop this year.
More info: Website: www.deloitte.com/us.