47% of shoppers are worried they’ll have a hard time finding the item
The nation’s largest retail trade group said on Thursday that consumers are likely to spend around $1,000 on holiday-related merchandise and gifts this year.
According to a National Retail Federation and Prosper Insights and Analytics survey, 90% of adults said they plan to celebrate the holiday season, which includes Christmas, Hanukkah and Kwanzaa. This is up slightly from 87% in 2020.
Even though this year’s projected holiday spending—about $997.73 per buyer—is on par with consumer spending in 2020, it’s still slightly below the pre-pandemic high of $1,047.83 in 2019, according to the Retail Trade Group.
This year, consumers plan to give around $650 for gifts. According to the survey, another $350 will be spent on non-gift items, with $231 going toward food, candy, decorations, and cards.
However, serious supply chain issues remain a major concern for shoppers.
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Around 47% of buyers are worried that they will find it difficult to find the items they want this year, the data showed. Most consumers are particularly concerned with finding electronics, clothing, and toys.
However, NRF President and CEO Matthew Shay said that “the industry is working closely with ports, labour, shippers and transportation providers as well as government officials” to address supply chain challenges.
However, when trying to find items, most will be online rather than going to the store. More than half of shoppers — nearly 57% — said they plan to buy holiday items online this year, according to the survey.
In doing so, “they [shoppers] “We are taking advantage of additional offerings like free shipping, online shopping, in-store pickup and even expedited shipping,” said Phil Rist, Prosper’s executive vice president of strategy.
For its data, the NRF surveyed nearly 8,000 consumers about winter holiday shopping plans from October 1 to October 10.