Showing posts with label Consumer Spending. Show all posts
Showing posts with label Consumer Spending. Show all posts

Sunday, November 28, 2010

Round Two: Cyber Monday!

After a great weekend for retailers, shops are rolling out big deals for 'Cyber Monday.'

The holiday that always lands on the Monday after Thanksgiving gets its name from a retail trade group that promoted the idea that people will return to work after a festive weekend of food and shopping, log on to their computers and continue to shop.

Cyber Monday has become a bigger deal than in years past. In fact, as stores promote their Black Friday ads online, it's harder to tell the difference between Black Friday and Cyber Monday deals. Actually, this year more stores are promoting their Cyber Monday ads all week long because more shoppers are just going online rather than coming in their stores. For example, Walmart.com is promoting 'Cyber Week,' discounts from Sunday through next Friday.

Online spending still is a very small piece of the income pie, between eight and 10 percent. However, with it's recent growth in popularity stores get excited about the enthusiasm surrounding online shopping.

Monday, November 22, 2010

2010 Consumer Shopping Trends

The holidays are upon us and for weeks I've already heard 24-7 Christmas music playing on some radio stations. Today through Thursday I'm gearing up for my Black Friday shopping-spree by paging through ads and websites to see what I should run after. The National Retail Federation/BiGresearch, comScore, Consumer Electronics Association and Consumer Reports surveyed and found out what the hot items this season are.

Top Consumer Trends:

More discretionary gifts: Longtime favorites still rule -- gift cards, books, clothes, CDs and DVDs, but the number of people who want a gift of jewelry under the tress is up 13 percent from last year.

Gift cards: After growing in popularity by double digits, gift card sales grew only slightly last years as retailed continued to offer deep discounts. This year experts predict more practical gift cards for grocery stores, restaurants and home improvement centers will be under Christmas trees.

Value over price: Even though rock-bottom prices seem to be important, it appears that consumers are considering quality more lately.

Fewer gifts for self: Almost a third of people say they'll cut back on buying themselves gifts, putting more toward charitable giving and gifts for others.

Click and buy: Many people I've been talking to say they don't want to bother with the crowds during the holidays - they'll be doing most of their shopping online. Online spending is expected to grow by nine percent, twice last year's pace. and online shopping say they'll spend almost a quarter more.

Going mobile: Practically 27 percent of those who own a smart phone will use it in their research or buying.

Gadgets: Consumers plan to spend give percent more on consumer electronics this year; nearly a third will buy nothing but consumer electronics. At the top of the gift-giving list: video game consoles, MP3 players, notebook/laptops. TVs, which had been the most popular category in recent years, fell to No. 6.

Cash is king: Slightly more than a quarter of shoppers say they'll charge their gifts, the lowest since 2002. Four in 10 people say they'll cut back on credit and debit card spending.