- Title: Shoppers to spend more this holiday season, say retail experts
- Date: 22nd November 2016
- Summary: NEW YORK, NEW YORK, UNITED STATES (NOVEMBER 21, 2016) (REUTERS) VARIOUS OF TIMBERLAND STORE EXTERIOR WITH SALE SIGN VARIOUS OF PEOPLE CARRYING SHOPPING BAGS (SOUNDBITE) (English) RETAILMENOT CHIEF MARKETING OFFICER, MARISSA TARLETON, SAYING: "There's a few interesting things about this season. One, consumers are saying they are going to spend more this year. Sixty-one percent plan to spend more this holiday season than they did last year. The categories of where they're going to spend will be similar - electronics, TVs, accessories, computers, that type of thing. The interesting thing about this season is mobile has really taken over and mobile is influencing all channels. And the retailers that are understanding that and capitalizing on consumers browsing on their mobile devices while they're shopping, in my opinion, are going to be the ones that really take off. So these are consumers using their mobile phone for in-store shopping and online shopping to find the best deals, to look for offers, to figure out where to buy. And I think that's really an interesting trend that we'll see this year that retailers will need to take advantage of." VARIOUS OF PEOPLE USING THEIR MOBILE PHONES ON STREET OUTSIDE STORE (SOUNDBITE) (English) NEW YORKER, CHARLIE, SAYING: "I think I'll spend a little more this year. I mean the sales are great." BLACK FRIDAY SALE SIGN (SOUNDBITE) (English) NEW YORKER, CHARLIE, SAYING: "It's more so the trends are changing and I like, for example, what H&M have to offer. So, I think for me this year, it's just one of these things where it's going to be a good holiday season." VARIOUS OF H&M EXTERIORS EXTERIOR OF MACY'S PEOPLE WITH SHOPPING BAG (SOUNDBITE) (English) VISITOR FROM COLORADO, HALEY, SAYING: "I'm the kind of person, I always try to find the deal. So if I can spend less, I will. But if not, to me it's about getting the right gift, not necessarily how much you spend on it." VARIOUS OF SALE SIGNS (SOUNDBITE) (English) NEW YORKER, ALIMATA, SAYING: "This year I'm spending less because the economy is a little bit weak and the business is so slow. And we have to know how to have a little savings to the side. So this year.. I believe last year, I shopped like crazy, but I corrected my mistake for this year." VARIOUS OF PEOPLE WITH SHOPPING BAGS (SOUNDBITE) (English) VISITOR FROM ARIZONA, ROBBY, SAYING: "Hmm, let's see do I like my friends this year and family? Yeah, yeah. More, I'll spend more." EXTERIOR OF MACY'S VARIOUS OF MACY'S HOLIDAY WINDOWS
- Embargoed: 7th December 2016 16:31
- Keywords: shopping holiday Macy's Walmart
- Location: NEW YORK, NEW YORK AND BERGEN COUNTY, NEW JERSEY, UNITED STATES
- City: NEW YORK, NEW YORK AND BERGEN COUNTY, NEW JERSEY, UNITED STATES
- Country: USA
- Topics: Economic Events
- Reuters ID: LVA00159J2DN1
- Aspect Ratio: 16:9
- Story Text: Shoppers will spend more money this holiday season, according to the National Retail Federation (NRF) and a retail analyst who spoke to Reuters.
The NRF says it expects sales to increase 3.6 percent to $655.8 billion (USD) for November and December.
The retail trade association credits steady job and income gains, consumer confidence and greater use of credit this year to people's willingness to spend more money.
The year-end shopping season, which spans November and December, is crucial for many retailers because the two months can account for anywhere from 20 to 40 percent of their annual sales.
"There's a few interesting things about this season. One, consumers are saying they are going to spend more this year. Sixty-one percent plan to spend more this holiday season than they did last year. The categories of where they are going to spend will be similar - electronics, TVs, accessories, computers, that type of thing," said Marissa Tarleton, the chief marketing officer of RetailMeNot, Inc, in North America.
Shoppers in Herald Square in New York City offered a mixed forecast on their holiday spending.
"I think I'll spend a little more this year. I mean the sales are great," said Charlie, a New Yorker.
Haley, a visitor from Colorado said, "I'm the kind of person, I always try to find the deal. So if I can spend less, I will. But if not, to me it's about getting the right gift, not necessarily how much you spend on it."
Alimata from New York said, "This year I'm spending less because the economy is a little bit weak." She added, "I believe last year, I shopped like crazy, but I corrected my mistake for this year."
In the meantime, big box retailer Walmart announced it will offer Cyber Monday deals starting on Black Friday (November 25), the day after the American Thanksgiving holiday, the traditional start of the holiday shopping season.
Walmart stores will start offering online deals reserved for Cyber Monday two days in advance this year, joining a growing list of U.S. retailers who offer web promotions over the Thanksgiving weekend.
"The interesting thing about this season is mobile has really taken over and mobile is influencing all channels. And the retailers that are understanding that and capitalizing on consumers browsing on their mobile devices while they're shopping, in my opinion, are going to be the ones that really take off," added Tarleton.
Walmart recently said it will boost its online inventory for Black Friday by more than half this year, as it pulls out all stops to grow online sales this holiday season. The retailer has grown its online inventory to 23 million items from 8 million at the start of the year.
Walmart's step to boost online sales comes at a time when Black Friday is losing its importance as early discounts and online shopping keep shoppers away from stores.
Walmart said orders that were ordered on the retailer's mobile app and picked up in store increased more than 75 percent during the first two weeks of November from the same period a year earlier.
Cyber Monday is the biggest day of the year for internet shopping and follows Black Friday, which is the busiest shopping day for brick-and-mortar retailers. - Copyright Holder: REUTERS
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