Surveys

Shoppers to Spend More on Winter Holidays This Year, Says NRF

SurveysOct 23, 2023

Shoppers to Spend More on Winter Holidays This Year, Says NRF

Discounts and promotions could persuade consumers to shop earlier this year, the survey found.

Stock image of holiday gifts in bags
Shoppers are expected to spend $875 on average celebrating winter holidays this year, up from $833 last year, according to the National Retail Federation’s latest consumer survey, conducted by Prosper Insights & Analytics.
Washington—Shoppers are expected to be in the holiday spirit this year in spite of the ongoing economic and geopolitical uncertainty. 

Consumers are expected to spend $875 on average celebrating the winter holidays this year, according to the National Retail Federation’s latest consumer survey conducted by Prosper Insights & Analytics. 

(The survey is a measure of overall spending on gifts, decorations, food, and other key seasonal items; NRF will release its annual holiday sales forecast focusing on core retail in November.)  

That’s $42 more than what they planned to spend last year and is in line with the average holiday budget over the last five years.

Of that budget, around $620 will be spent on gifts, with the other $225 going to decorations, candy, food, and other holiday items.

“The winter holidays are an important tradition to many American families, and shoppers are prioritizing their holiday purchases for the people most important to them,” said NRF President and CEO Matthew Shay. 

“Retailers have been preparing for months to ensure their inventories will meet demand, while at the same time helping consumers maximize their budgets with shopping events and discounts running throughout the extended holiday shopping season.”
 
Almost all U.S. adults surveyed (92 percent) plan to celebrate a holiday event like Christmas, Hanukkah, or Kwanzaa this winter, which is in line with last year, said NRF.

 Related stories will be right here … 

As in previous years, 43 percent of holiday shoppers are expected to start checking gifts off their list before November.

The NRF’s survey found the top reason respondents cited for shopping early was to “spread out their budgets” (60 percent), followed by avoiding the stress of last-minute shopping (46 percent), and avoiding crowds (45 percent).

Still, most shoppers (62 percent) don’t expect to finish holiday shopping until December.

“However, early sales may sway consumers to shop even earlier,” Prosper Executive Vice President of Strategy Phil Rist said.

“This year, seven in 10 holiday shoppers say they are considering taking advantage of October sales events to pick up holiday gifts, décor and other items on their list.”

A recent Shopify holiday survey showed similar results, with 41 percent of respondents planning to start holiday shopping this month or earlier. 

The Shopify survey showed that consumers, particularly in Gen Z, could be persuaded to shop sooner if retailers offered holiday deals and promotions.

Though respondents told NRF they plan to spend more this year, they are still budget-conscious, with 62 percent of respondents saying sales and promotions are even more important than last year.

More than one-third (36 percent) said they’re scaling back spending in other areas to cover the cost of holiday gifts.

Thirty percent of respondents said they’re buying gifts for fewer people this year while 27 percent said they’re buying less for themselves.

As for where they’re shopping, the NRF survey found 58 percent of consumers plan to shop online this year. 

Department stores (49 percent) took the No. 2 spot, followed by discount stores (48 percent), and grocery stores and supermarkets (44 percent).

Gift cards remain the most popular gift to receive, with 55 percent of holiday shoppers saying they would like one, followed by clothing or accessories (49 percent), books, video games or other media (28 percent), and personal care or beauty items (25 percent). 

Nearly one-quarter of shoppers (23 percent) plan to gift someone an experience this year, in line with last year and up 19 percent from 2021.

The survey, conducted in October, asked 8,103 adult consumers about their holiday shopping plans.

The Latest

Stock image of a gavel
CrimeDec 11, 2024
Former Tiffany & Co. Factory Supervisor Sentenced for Stealing Precious Metals

A federal judge gave Benjamin Preacher 59 days in jail, plus 10 months of home confinement and two years of supervised release.

Grader looking into microscope at IGI lab
GradingDec 11, 2024
IGI Set to Go Public Next Week

In a CNBC interview, CEO Tehmasp Printer discussed the IPO in India and what declining lab-grown diamond prices mean for the company.

Heuer Monaco Ref. 1133B
AuctionsDec 11, 2024
Sotheby’s Important Watches Sale Fetches $16.6M

The offering included vintage Rolexes, timepieces worn in “Titanic,” Steve McQueen's watch, and a special Citizen pocket watch.

ja nj btyb.jpg
Brought to you by
Advocacy and Excellence: How Jewelers of America Is Committed to Elevating Our Industry

For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.

Stephanie Gottlieb, Anna Harman, Stephanie Gottlieb x Studs Collection
CollectionsDec 11, 2024
Stephanie Gottlieb Brings Natural Diamonds to Studs

The 13-piece “Stephanie Gottlieb x Studs” collection is the piercing studio’s first fine jewelry offering to feature the gemstone.

Weekly QuizDec 05, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Exterior of Sauer’s Madison Avenue Store
IndependentsDec 10, 2024
Sauer Opens First U.S. Store

The Brazilian jewelry brand made a home on New York City’s Madison Avenue with exclusive pieces only available at the location.

American Gem Trade Association and University of Arizona
Events & AwardsDec 10, 2024
AGTA Launches Scholarship for University of Arizona Geosciences Students

The inaugural Dick Greenwood Memorial Scholarship in Gems Science will cover the fall 2025 and spring 2026 semesters.

undefined.png
Brought to you by
Protecting Your Sparkle: Why Screening Has Become Essential

While no reputable jeweler would knowingly sell lab-grown stones as natural, it's a growing possibility.

JA New York Show Entrance
Events & AwardsDec 10, 2024
JA New York To Debut 2 New Pavilions at Spring 2025 Show

A Piazza Italia pavilion will feature Italian designers and manufacturers while “MJSA Showcase” brings over a piece of the MJSA Expo.

Ray Griffiths and Ray Griffiths: The Works
CollectionsDec 09, 2024
Ray Griffiths’ First Coffee Table Book Spans 5 Decades of Design

“Ray Griffiths: The Works” tells the story of the master jeweler’s career, which started with an apprenticeship in Australia at age 15.

Grant Mobley and Thomas Davis
MajorsDec 09, 2024
Thomas Davis, Grant Mobley Join WJA Foundation Board

Davis is the director of business development at Select Jewelry Inc., and Mobley is the jewelry and watch editor at the Natural Diamond Council.

Movado campaign
FinancialsDec 09, 2024
Movado’s Q3 Sales Down 3% Amid ‘Challenging’ Environment

The retailer has been upping its marketing spend to drive revenue growth and brand awareness.

Treiber & Straub store Brookfield, Wisconsin
IndependentsDec 06, 2024
After 44 Years in Business, This Wisconsin Independent Is Closing

Mike Straub and John Treiber opened Treiber & Straub in 1980 with the goal of bringing Milwaukeeans the best jewelry brands.

Pantone Color of the Year Mocha Mousse
TrendsDec 06, 2024
Pantone’s Color of the Year Is a Delicious Mousse

The color for 2025, “Mocha Mousse,” embodies thoughtful indulgences and everyday pleasures.

Cocoerow Fine Jewelry’s Kokoro Ant Pendant
CollectionsDec 06, 2024
Piece of the Week: Cocoerow Fine Jewelry’s ‘Kokoro’ Pendant

The Yoruba word for ant, “Kokoro” embodies the strength of womanhood in ant society while highlighting responsible sourcing.

Roberto Coin jewelry
FinancialsDec 06, 2024
Roberto Coin Acquisition Gives Watches of Switzerland a Boost in H1

The retailer’s jewelry sales doubled, with branded jewelry performing especially well.

Gold rings
FinancialsDec 05, 2024
Signet Jewelers’ Q3 Sales Slide Amid Slow Engagement Ring Sales, Tech Issues

The jewelry retailer addressed the lab-grown diamond “disruption,” the price of gold, and its holiday weekend performance.

Michael S. Krzemnicki
Events & AwardsDec 05, 2024
Michael S. Krzemnicki to Receive 2024 Bonanno Award

The director of the Swiss Gemmological Institute (SSEF) will be honored for his impact on gemology and dedication to advancing the science.

1.png
Supplier BulletinDec 05, 2024
Join Us For Color's Premier Show: 2025 AGTA GemFair Tucson

Sponsored by 2025 AGTA GemFair Tucson

Gwen Beloti, Lisa Bridge, Eddie Plein, Anna Samsonova
Events & AwardsDec 05, 2024
BIJC Announces 2024 ‘Rock the Jewels’ Awards Winners

At the annual event, in its second year, the organization honored those making remarkable contributions to the jewelry industry.

For Future Reference Vintage turquoise necklace
TrendsDec 05, 2024
Amanda’s Style File: A Blue, Blue, Blue Month

Celebrate December babies with 20 pieces of jewelry featuring this month’s birthstones—turquoise, tanzanite, and zircon.

People outside holding shopping bags
SurveysDec 04, 2024
In-Store Shopping Outpaced Online Over the Holiday Weekend, Says NRF

A total of 126 million consumers shopped in stores over the five-day period, about 5 million more than last year.

Stock photo of diamonds
Lab-GrownDec 04, 2024
GJEPC Says Indian Trade Will Use FTC-Approved Terminology for Lab-Grown Diamonds

The FTC’s Jewelry Guides require “clear and conspicuous” disclosure when advertising lab-grown diamonds.

Grandview Klein Diamond Group Staff
SourcingDec 04, 2024
Designer Saul Fraiman Retires After 55 Years

The fine jewelry designer, who came out of retirement in 2017, is putting down his sketchpad for good.

30.101-carat very light pink diamond
AuctionsDec 04, 2024
30-Carat Pink Diamond Fetches $2.6M at Bonhams

The Type IIa, very light pink colored diamond was the highlight of the recent Hong Kong jewelry auction.

John Willard Craiger mugshot
CrimeDec 03, 2024
Man Sentenced to Life in Prison for Murder of Florida Jeweler

John Willard Craiger, 83, fatally shot jeweler Ghazi “Gus” Michel Osta following an argument in the store.

National Jeweler columnist Peter Smith
ColumnistsDec 03, 2024
Peter Smith: How a Leadership Hire Can Make or Break a Company

In his latest column, Smith provides a list of questions every business needs to be asking their next potential leader.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy