Hope for Holiday Spending?

There is hope for a better 2010 holiday shopping season as long as retailers recognize that there is a different shopper now. Shoppers are less optimistic about their financial recovery from the recession than they were a year ago, but they are returning to shopping, said Wendy Liebmann, chief executive officer of WSL Strategic Retail on the release of the leading retail and marketing strategy firm’s pre-Holiday 2010 report How America Shops Recovery…or Not.

“Our report reveals fewer shoppers are avoiding shopping the way they did a year ago. It is a small number (6%), but this is the first time the trend has reversed since October 2008. However, shoppers say they have put safeguards in place to shop within their means this holiday season,” explained Candace Corlett, president of WSL Strategic Retail.

Shoppers’ Rules for Holiday 2010:

60% will stick to stores and brands they can afford
56% will spend less on gifts
53% will stay out of stores where they are tempted to overspend
54% will make shopping lists to manage their budget
45% will look online for the best prices before they go to stores

Retailers’ Opportunities for Holiday 2010:

Target Men, the Young and the Affluent- These three groups are more optimistic about the recovery and will come back to spending first.

Present Fashion Fashionably- All shoppers, but especially women, are trying to stick with stores they can afford. Merchandise up to satisfy aspirations.

Drive Website Browsing- This is where shoppers will browse for gift ideas and compare prices before they go to the stores.

WSL Strategic Retail’s How America Shops Recovery…or Not is based on a national online survey of 1,500 men and women age 18 and over.