According to the NPD Group’s Holiday Spending Survey released in October, the majority of consumers intend to spend the same as or more than last year, with fewer saying they plan to spend less.
“Consumers are feeling better about the economy compared to last year and they plan to take advantage of sales during key periods,” said Marshal Cohen, chief industry analyst, The NPD Group, Inc.
Consumers’ purchasing plans are similar to last year, with the same top 10 items on their holiday shopping list.
“With no new trendy items besides some updated versions of the same hot products from past years, consumers will not shop with fear due to lack of inventory. The must-have items will also be available at a wider variety of retailers, minimizing the panic shopping of years past,” said Cohen.
The good news for the cosmetic industry is that fragrance made the cut, according to NPD (see chart below).
In addition, more consumers plan on purchasing skin care and makeup products this year, compared to the 2012 holiday season (8% planned to purchase each in 2013, vs. 7% in 2012). And NPD data has also revealed that compared to the 2012 holiday season, more consumers are planning on shopping at beauty specialty stores (14% in 2013 compared to 13% in 2012).
More info: www.npd.com