NRF sees glass half full for holiday shopping kick-off

In gauging holiday shopping trends over the long 2013 Thanksgiving weekend, the National Retail Federation reported an increase in the amount people spent online, and a rise in the amount of shoppers who took to the stores (whether virtual or brick-and-mortar), which combined to offset a reduction in overall spending by consumers.

In the survey conducted for the NRF by Prosper Insights & Analytics, U.S. consumers were found to have spent on average $407.02 from Thursday to Sunday, down from $423.55 over the same period in 2012. However, the amount of "unique" holiday shoppers hit an estimated 141 million, up by 2 million from 2012.

And of about 59 million individuals who shopped online over the long weekend, the average spend stood at $177.67, "or approximately 43.7 of their total weekend spending, up from 40.7 percent last year," the NRF said.

While media reports cast the numbers as a reflection of consumers' tightening budgets in a sluggish economy, NRF President and Chief Executive Officer Matthew Shay put a positive spin on the results. "Cold weather, unique promotions and unbeatable prices put millions of Americans in the mood to shop for holiday gifts this weekend," he said. "Retailers' late night and early morning promotions struck just the right chord for those hoping to kick off the holiday shopping season with friends and family."

Shay expects retailers to aggressively promote in-store and online offerings with discounts and other deals up until Christmas Day.

Breaking down the numbers

From Nov. 29 to 30, 2013, Prosper polled 4,464 consumers. The results suggest consumers spent more on practical goods than on luxury items, with:

• 57.5 percent buying clothing and clothing accessories
• 37.7 percent buying electronics
• 36.1 percent buying books, CDs, DVDs and video games
• 34.5 percent buying toys
• 29.6 percent buying gift cards
• 16.9 percent buying jewelry

Furthermore, 54.2 percent of survey respondents visited department stores and 38.9 percent frequented discount stores. Meanwhile, the survey found that about 3 percent fewer shoppers (76.4 percent of total survey participants) were less willing to take advantage of online and in-store promotions to purchase nongift items, perhaps as a consequence of economic belt tightening.

However, advertising circulars and emailed offers were still found to be effective ways for merchants to entice consumers to shop with them over the holiday weekend.

According to the survey, 49.2 percent of shoppers sought information about promotions and sales via advertising circulars, while 33 percent conducted online searches to find deals. "Additionally, 36.8 percent made sure to keep track of emails from retailers, 16.4 percent reviewed retail companies' Facebook accounts for information, and 12.2 percent browsed stores to find bargains and sales," the NRF said.

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