LOS ANGELES – A recent National Retail Federation (NRF) survey reveals that more college-aged consumers (ages 18 to 24) plan on heading to department stores this winter holiday season to purchase their gifts, notes a press release announcing the survey results.
The 2006 NRF “Holiday Consumer Intentions and Actions Survey” found that 79 percent of college-aged consumers are planning to purchase their holiday gifts at department stores, up from about 73 percent in 2005. NRF spokesman Scott Krugman likened the survey results to the group’s back-to-school findings.
“We’re seeing that trend now for the holiday season,” Krugman told Reuters, adding, “What that shows is not only are department stores doing a better job of marketing to this age group, but clearly they're providing the right merchandise mix at the right price points.”
The survey also found that nearly three-quarters of American consumers are planning to purchase holiday gifts at discount retail stores, while nearly 62 percent will head to department stores and 48 percent will head to specialty stores. About 47 percent of shoppers plan to skip stores altogether and shop online.
According to the survey, the average U.S. consumer will spend about $791 during the winter holidays, which is up from about $738 in 2005. The survey credits this boost in holiday spending to lower gasoline prices and rising consumer confidence, notes Reuters.
“Consumers seem like they're in a good place in terms of spending,” Krugman told the news source, adding, “The lower gas prices certainly have a lot to do with that sentiment.”