Home / Knowledge / News / Apparel/Garments / Accenture study forecasts 11% hike in US holiday spending
Accenture study forecasts 11% hike in US holiday spending
14
Oct '13
U.S. consumers intend to spend an average of $646 on gifts this holiday season, which would represent an 11 percent increase over the $582 they planned to spend, on average, in 2012, according to Accenture’s annual holiday shopping survey.

Additionally, the survey shows that the appeal of Black Friday shopping for consumers has reached a five-year high and Thanksgiving Day has emerged as an established holiday season event. Although they plan to spend more, consumers also will be on the lookout for sizeable discounts throughout the holiday season.

The Accenture Holiday Shopping Survey found that one in five consumers (20 percent) plans to spend more on gifts this year, compared to 14 percent who planned to increase their holiday spending in 2012. They also are more likely to overspend their holiday budget this year (46 percent, compared to 34 percent in 2012).

However, holiday shoppers will be keenly focused on discounts and sales: 94 percent said that discounts will be important to their purchasing decisions this holiday season, up from 84 percent in 2012, and 49 percent expect that three-quarters or more of their purchases will be for discounted or sale items.

The survey indicates that the lure of Black Friday as a major shopping event is at its highest level in five years: 55 percent of shoppers say they are likely to shop on this traditional shopping day, compared to 53 percent in 2012, and 44 percent in 2011. However, a larger proportion of shoppers (30 percent) said they will do most of their Black Friday shopping online, compared to 25 percent in 2012.

At the same time, the survey shows that the growing trend among retailers to open their stores on Thanksgiving Day means that this event is becoming ingrained as a holiday tradition. In fact, 38 percent of shoppers surveyed said they were likely to shop on Thanksgiving. Of those shoppers, 41 percent indicated that they will be out shopping between 6 PM Thanksgiving Day and 5 AM on Black Friday.

Nearly three-quarters (73 percent) of respondents said they had already started their holiday shopping or plan to do most of it by the end of November.

Accenture

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search