Thursday, November 11, 2010

Cash Is King, But Big Ticket Items Are Making A Comeback

Good news for retailers: after rising in October to 34.6%, the number of consumers planning to decrease overall spending has dropped nearly four points to 30.8% this month, on par with Nov-09 (30.4%). However, Big Research's monthly online tracking study postulates that with a third (32.2%) making paying down debt a fiscal priority over the next three months, consumers say they overspend this holiday season. One-quarter plans to increase savings (25.3%), while one in five (21.3%) intends to pay with cash more often:

Those in search of Thanksgiving turkey and all of the fixings will likely head to Walmart this month, where nearly one in five (18.5%) shops most often for Groceries…Kroger (7.1%), Publix (3.9%), Safeway (2.9%), and Shoprite (2.4%) complete the top five for this category.

The seasonal Toy battle has begun, with retailers hotly vying for a piece of Santa’s wallet this year (just like every other year)…for holiday 2010, look for consumers to head most often to Walmart (20.2%) and big box Toys R Us (17.9%). Target (6.2%), Kmart (1.3%), and Amazon (1.2%) follow the “Big Two” in Toys. Though with 46.0% citing “No Preference” for Toy store shopped, discounts, promotions, and availability will be key to courting a large number of consumers.

56.2% are highly anticipating Harry Potter and the Deathly Hallows, Part I. Those under 35 also appreciate 3D TVs, while those 35+ are tuning in to the new Hawaii Five-O. And if any guys need a gift idea, women love the idea of cuddling up to cashmere. What’s Not? Fair Isle Sweaters…nearly 90% say this Nordic knit trend should stay on the ski slopes.

More info? Email Phil Rist.

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