More Young Shoppers Head to Department Stores
Los Angeles, The National Retail Federation's (NRF) 2006 holiday season survey has found that more college-aged shoppers will be hitting department stores this year to do their shopping. The Holiday Consumer Intentions and Actions Survey found that 79% of shoppers ages 18 to 24 planned to shop at department stores during the holidays, up from nearly 73% last year.
While nearly three-quarters of American consumers plan to shop at discount stores this holiday, nearly 62% are headed to department stores, the study found, with 48% shopping at specialty stores and 47% looking to the Web for their gifts.
The average consumer plans to spend $791.10 on presents this holiday, up from $738.11 in 2005, according to the study, an increase boosted by lower gas prices and rising consumer confidence.