Consumers’ holiday shopping budgets are likely to expand for 2012, although the loosening of the purse strings might be put on hold until after Election Day.
According to The NPD Group’s 11th annual holiday survey, the percentage of consumers intending to spend more this year than last rose to 10 percent from 9 percent a year ago. The shifts were larger among those who plan to spend the same — up to 67 percent from 64 percent in 2011 — and those who plan to spend less — down to 23 percent from 27 percent.
When consumers were asked which distribution channels they intended to shop, only one category registered more than a 1 percent jump from 2011 levels as off-price retailers garnered a 15 percent affirmative response, up from 13 percent. Discount stores remained the preferred destination with a 50 percent response, down 1 point from a year ago, and online shopping was second, holding steady at 38 percent.
National chains, such as Sears, J.C. Penney and Kohl’s, fell to 28 percent of the sample from 29 percent and department stores dropped to 23 percent from 24 percent. Likewise, toy stores and warehouse clubs both fell a single point, to 19 percent and 17 percent, respectively, while outlet stores and electronics stores held steady, both at 17 percent.
Apparel specialty stores ticked up to 16 percent this year from 15 percent in 2011.
Retailers will have a wider window through which to attract shoppers as there will be one more shopping day between Thanksgiving and Christmas than there was a year ago. That could help compensate for an electorate that is expected to be focused on the selection of a president between now and Nov. 6.
“Consumers and the media will be thinking about the election more than shopping, but when the election is over, consumers will get into the holiday spirit,” said Marshal Cohen, chief industry analyst for NPD. A slightly smaller percentage of shoppers — 16 percent versus 17 percent a year ago — had already started their holiday shopping before responses to the survey were collected during the week ended Sept. 11. The percentage of shoppers planning to start the process before Thanksgiving moved up to 21 percent from 19 percent last year.
The survey included online responses from 3,618 individuals.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
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Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
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Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)