The latest survey conducted for the National Retail Federation (NRF) suggests that consumers will modestly increase their holiday spending this year, in line with the trade group’s prior holiday forecast.


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NRF sees glimmer of hope for holidays

October 19th, 2010

WASHINGTON – The latest survey conducted for the National Retail Federation (NRF) suggests that consumers will modestly increase their holiday spending this year, in line with the trade group’s prior holiday forecast.

According to a poll conducted in early October by BIGresearch for NRF’s 2010 Holiday Consumer Intentions and Actions Survey, consumers plan to spend $688.87 on average, a slight boost from last year’s average of $681.83.

While most (61.7%) shoppers said the economy will affect their spending, the number who singled out customer service as the most important factor rose to 5.3% from 4.4% last year, though consumers who made quality the top factor rose to 12.7% from 11.8% last year.

“Consumers will still shop with the economy in the back of their minds, but we’re starting to see shoppers take baby steps toward a new normal,” said NRF president and chief executive officer Matthew Shay. “As Americans open up their wallets for more discretionary gifts like jewelry or take advantage of sales to buy for themselves, retailers will begin to truly believe that the worst may be behind them.”
 

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