Everybody cares about the holiday shopping season. For retailers, it can account for as much as 30% of annual sales according to the National Retail Federation ("NRF"). For many individuals, it can be the best time to score great deals on presents for loved ones. For the overall economy, the impact of the holiday shopping season is estimated by the NRF to be $640 Billion, so its importance ripples far beyond the immediate receipts tabulated by retailers.
The start of the holiday shopping season is referred to as "Black Friday" in recognition of many retailers going "into the black" of profitability on the day after Thanksgiving. That important day inspired me to write a Thanksgiving rhyme about a study we conducted on holiday shoppers and their habits throughout the period. And with under a week before Christmas Day, we have less than seven days to appreciate seven things to know about holiday shoppers:
- One in five of us still has gifts to buy. Eighteen percent of holiday shoppers plan to buy gifts this week.
Who are these shoppers? The younger crowd—with an average age of 40 compared to 47 among other shoppers. One-third of those buying this week are under 30. Read More