Holiday Spending is Expected to Remain Steady, Number of Gifts to Increase

Now that the Halloween holiday is over, consumers will be turning their interest and their spending towards the upcoming holiday season. There is good news for children and retailers alike, spending is expected to remain the same despite concerns about the economy. Deloitte & Touche USA LLP conducted their 22nd Annual Holiday Survey of retail spending and trends to determine this information. The survey included 14,135 consumers and was conducted during the last week of September through the first week of October. The results were released in a recent press release from Deloitte & Touche USA LLP.

Overall the survey found that the average consumer will be spending close to the same amount of money that they spent last year on holiday spending. The good news for children hoping to find lots of presents under the tree is that the average number of gifts purchased will be increasing. The study found that the average number of gifts purchased this year will be 23. This is up from last year when the average was 22 gifts purchased by each individual. The press release indicates this number of 23 gifts purchased by each consumer is the highest in the past six years. The study also revealed that women are planning on purchasing more gifts than the average consumer, with an anticipated total of 26 gifts purchased each.

This will be the fourth consecutive year where gift cards are the most popular purchase by holiday shoppers according to the press release. 69 percent of consumers surveyed responded that they will be purchasing a gift card for the upcoming holiday season. This is up three percent from the 66 percent from last year's survey. The number of gift cards that will be purchased on average will be increasing as well. Last year the average consumer expected to purchase 4.6 gift cards, this year that number is 5.5 cards. Sixteen percent of those surveyed indicated they would be purchasing at least ten gift cards.