In the U.S., the National Retail Federation has released its annual Holiday 2007 Forecast.
The NRF is projecting that this year’s holiday sales will be four per cent higher than in 2006 and result in approximately $474.5 billion in holiday sales.
The 2007 holidays sales increase is forecasted to fall below the 10-year average of 4.8 per cent and will be the slowest holiday sales growth since 2002. The NRF cited the weak housing market in the U.S., along with the country’s credit problems, as the reason for the decline. Low- to middle-income consumers affected by these economic problems will be less likely to empty their wallets this holiday season.
Some interesting statistics from the report include:
• $39.16 is the average amount of each gift card purchased last holiday season
• only 10.8 per cent of people were finished Christmas shopping by
Dec. 15
• the average person spent $99.22 on themselves during the 2006 holiday
• the typical American shelled out $18.28 on flowers last Christmas
• $46.49 was the average amount a person spent on 2006 holiday decorations
• 47 per cent of shoppers purchased online gifts last year
Stay tuned to www.canadianfloristmag.com for updates on the Canadian holiday retail forecast, which typically become available at the beginning of November.
For more on preparing for the holiday season, check out our holiday survival package on page 28.
|
