NPD: Consumers Approach Holidays With Care
When asked about their holiday spending plans for this year, 61 percent of respondents say they plan to spend about the same, with 9 percent answering more and 30 percent less. That's according to a holiday spending forecast released Thursday by NPD Group.
Customers in the survey also placed electronics fifth in the top ten among product categories they plan to buy at 16 percent, after clothing, toys, movies/DVDs and books. CE also placed fifth in last year's survey, although at 24 percent.
“Even though the recession is technically over, lingering concerns are keeping consumers in a cautious frame of mind,” Marshal Cohen, chief industry analyst for NPD, said as part of the announcement “We are seeing what I call ‘calculated consumption.’ and I believe that it is a consumer mind-set that will be around after holiday shopping is over.”