$646. That’s what US consumers intend to spend, on average, on gifts this holiday season—representing an 11% increase over what they planned to spend in 2012, according to Accenture’s annual holiday shopping survey.
The survey also found that they also are more likely to overspend their holiday budget this year (46% compared to 34% in 2012).
However, holiday shoppers will be keenly focused on discounts and sales: 94% said that discounts will be important to their purchasing decisions, up from 84% in 2012. In fact, nearly 50% expect that three-quarters or more of their purchases will be for discounted or sale items, according to Accenture.
“The average dollar spend is trending up, and we are seeing a consumer mindset shifting from ‘cautious’ to ‘sensible,’ which is good news for retailers,” said Chris Donnelly, global managing director of Accenture’s retail practice. “However, retailers are mindful that during the 2013 Thanksgiving-Christmas shopping period, they will have six days less in which to tempt shoppers through their doors, so many will go big and go early.”
More info: www.accenture.com