Robust holiday season spike ahead, reveals survey
Consumers in the U.S. are likely already holiday shopping, and holiday season spend is predicted to grow 6 percent this year, according to a JLL Retail survey.
Generation X consumers are expected to spend more than Baby Boomers, 30 percent of shoppers will begin buying before Thanksgiving and another 30 percent will start between Thanksgiving and Cyber Monday, according to a release on the survey.
"As we head into the holiday season,consumer confidence is the highest it's been in nearly 17 years. We expect holiday spending will mirror overall retail sales trends, and anticipate that sales growth could reach as much as 6 percent jump due to favorable economic conditions and the strength of the labor market," said Greg Maloney, CEO of JLL Retail, in the release.
The data expects nearly 40 percent of consumers to shop at more than six brick-and-mortar stores and nearly two thirds of those polled will be shopping at superstores. About 44 percent will go online to shop for holiday gifts.
"Consumers who plan to do the majority of their shopping online will still venture out to physical stores either to pick up purchases ordered online or buy high end items they want to touch and test," said James Cook, director of retail research, JLL, in the release.
JLL conducted two separate online surveys, surveying 1,036 U.S. consumers online in September as well as 1,400 shoppers from 16 JLL-managed properties across the country between September and October.