Reports Predict Holiday Cheer for Retailers
Woburn, Mass., Two different reports point to a promising 2006 holiday shopping for retailers. A recent Prospectiv Consumer Preference Index (CPI) survey found that 68% of consumers surveyed expect to spend more or the same in 2006 when compared to 2005.
Opportunities for on-line sales are also looking favorable this year. In fact, 19% surveyed expect to make more on-line purchases in 2006. Similar to the findings of Prospectiv's 2005 CPI poll on holiday shopping, the majority of consumers (73%) in 2006 will rely on the Internet to research and compare prices and varieties of holiday products and gifts (up from 71% in 2005).
Top reasons consumers conduct holiday shopping on line include convenience (47%) and avoiding crowds (18%) with better deals coming in third (15%). About 56% of consumers said free shipping would be the top motivator to persuade them to spend more of their holiday dollars on line.