2014 Holiday Spending Survey Released By The NRF

By Cheryl Knight, contributing writer

How does this year’s holiday shopping season stack up compared to 2013? A survey from the National Retail Foundation (NRF) highlights the expected shopping trends for the 2014 holiday season.

2014 Holiday Spending Stats

Many shoppers plan to do most of their shopping during the month of November, with more than 40 percent of those surveyed stating their intent to do so. When asked where they planned on shopping for the holiday season, more than 60 percent plan on doing some of their shopping at discount stores, while close to that many picked department stores for some of their items. And, close to 50 percent said they would do at least part of their shopping online.

Interestingly, almost 30 percent said they would also be shopping at local small- and medium-sized businesses as well.

Looking Back At The 2013 Holiday Shopping Season

Looking back at the 2013 shopping season, retailers can get an idea of how 2014 might play out. As far as timing was concerned, in 2013, almost 50 percent were yet to get started on their shopping, 20 percent were one-fifth of the way done with their shopping, and less than 5 percent were finished with their shopping by November 2013. Of those who shopped, over 15 percent had at least 26 to 99 percent of their shopping done by December 2013.

The types of gifts bought ranged from clothing and related accessories, making up at least 60 percent of gifts given. Gift cards and certificates made up more than 50 percent of the gifts given, and CDs, DVDs, and video games came in a close third with around 50 percent of the gifts bought.

When asked what inspired their gift giving ideas, consumers listed online searches number one at almost 50 percent, followed closely by shopping within retail stores at more than 40 percent and friends or families listed as the inspiration at an even 40 percent.

Retail VARs Can Help

With the 2014 holiday shopping season upon us, retailers might look ahead with plans for the 2015 season.  According to a BSM article on the subject, some solutions VARS can recommend for their retail clients include in-store analytics, omni-channel solutions, and mobile solutions.