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Tag: Holiday spending

  • Last Minute Gifts for the Frugal Holiday Shopper

    Christmas is fast approaching and I’m sure a lot of you didn’t take advantage of the Thanksgiving and Black Friday shopping craze.

    Hey, I understand that things happen and you couldn’t find the time or money to go holiday shopping. Well, for all of you who are slackers, here are five ideas of last minute gifts that would surely save the day and your wallet.

    1. Gift Cards-This is one of the most obvious gifts, of course. Plus, it’s allows your gift recipient to use the card on any purchase from the associated store. Amazon’s gift cards are some of the most popular and easiest options available online. Also, if you’re looking to give your recipient a little bit more free will, look into the Visa gift card provided at stores like Walgreens.
    2. Flowers-This is a very endearing gift usually for a special someone. Although sending flowers are customarily intended for someone’s Birthday, Mother’s Day or Valentine’s Day, it could also be a perfect gift to receive on Christmas day. It’s a way of saying “I’m thinking of you even during the holidays.” I’m sure you would touch the heart of the person who receives this kind gesture.
    3. Baked Goodies-Who doesn’t like to be treated to some homemade Christmas cookies? Whether it’s brownies, a pie or cake, you could place the treats in a cute woven basket dressed in a red holiday bow and present it as a thoughtful yummy gift.
    4. Stocking Essentials-You could either buy a new stocking or recycle one of your own and stuff it with basic necessities you assume the person needs. This could include: soap, facial tissue, hand sanitizer, socks, etc. The possibilities are limitless.
    5. Christmas Cards-Although this sounds like a lazy way out, a lot of people really do enjoy the thought that people put into buying them the perfect card. No matter if it comes from the Dollar Tree or Hallmark, you could include money, a cute note or even one of those Amazon gift cards!

    Here are a few online stores specializing in other last minute shopping ideas:

    As long as you’re not waiting until Christmas day to finally get your gifts together, being a last minute person has its perks.

    Image Credit: Wikimedia Commons

  • Desktop Holiday Ecommerce Spending Up 14% From Last Year So Far

    Desktop Holiday Ecommerce Spending Up 14% From Last Year So Far

    A report out from comScore says $18.9 billion has been spent online during the first 24 days of the November-December 2013 holiday season, using desktop computers. This is up 14% from the same time period last year ($16.6 billion).

    Ahead of the report, Tuesday, November 19th was the heaviest online spending day of the season, reaching $963 million. Both the 14th and 24th also saw over $900 million each.

    “The 2013 online holiday shopping season is off to a solid start with nearly $19 billion in desktop e-commerce sales, an increase of more than 14 percent versus last year,” said Andrew Lipsman, comScore VP of Marketing & Insights. “The heaviest online spending day thus far fell just shy of $1 billion in sales, and though we’ve not yet reached that benchmark we can expect to see that spending threshold eclipsed numerous times during the post-Thanksgiving period. Black Friday and Cyber Monday can both be expected to easily surpass that total, with Cyber Monday already beginning to point toward $2 billion.”

    “While the early part of the online holiday shopping season has been solid so far, we are tempering our expectations given the shortened 26-day shopping period between Thanksgiving and Christmas this year,” said Lipsman. “In addition, with Hannukah beginning in November this year there is some spending that has been pulled forward and likely added a boost to the early November shopping period. That said, our forecast of 14 percent growth for desktop-based buying still represents a strong outlook versus last year that highlights the continued channel shift to online. We also expect m-commerce spending growth to contribute about 2 percentage points to that growth rate, meaning that total digital commerce will grow at a rate of nearly 16 percent.”

    The firm believes mobile commerce (which includes tablets) will reach $7.1 billion for the holiday season, which would be 13% of total ecommerce as total spending is expected to be $55.2 billion for the season.

    A new Gallup poll released today shows that over half (53%) of Americans say they are “very likely” or “somewhat likely” to shop online during the holiday season.

    Image: comScore

  • Black Friday 2013: Retailers Offer Early Deals

    Black Friday 2013: Retailers Offer Early Deals

    Black Friday 2013 is just three weeks away, and retailers are unveiling deals.

    This year, many are starting their big sales a little before the day itself, which happens to fall on November 29.

    Why the rush?

    There are six less shopping days between Thanksgiving and Christmas this year. It’s just the way the calendar falls, but when it happens, retailers worry that it might translate to decreased holiday spending.

    And, as retail analyst Candace Corlett puts it, “There’s a limited number of holiday gift dollars out there, and whoever gets them first, wins.” So when one retailer decides to start sales early, the others follow suit, unwilling to risk losing out on that fixed amount of consumer spending.

    Retail giant and trendsetter Wal-Mart hasn’t unveiled its Black Friday deals, but it dipped its toes into holiday advertising when it published its 2013 Holiday Top Toy List in September. Then, on November 1, it announced Early Bird Online Specials, offering deep discounts on a range of electronics.

    Wal-Mart wasn’t the only retailer to offer early bird discounts:

    Amazon jumped in on the action with its Countdown to Black Friday Deals Week.

    PetSmart will offer a three day pre-sale starting Monday, November 25 for both in-store and online shoppers.

    Many retailers are opening for Black Friday shopping on Thanksgiving Day this year. Kohl’s, JC Penney, Macy’s, Sears, Target and Toys R Us are among those who have jumped on the bandwagon.

    Kmart sparked controversy when it announced that its stores would be open from 6am on Thanksgiving morning until 11pm on Friday night. Dissenters have been particularly vocal on the company’s Facebook page, prompting the retailer’s social media team to reply that “We understand many associates want to spend time with their families during the holiday. With this in mind Kmart stores do their very best to staff with seasonal associates and those who are needed to work holidays.”

    If Twitter is any indication, shoppers are already getting in the mood for Black Friday and holiday shopping:

    Image via Facebook

  • Consumers Ready to Spend Money on Tech This Holiday Season

    Though it was one of the few industries to maintain growth during the recession that began five years ago, the tech sector was not immune to the effects of reduced consumer spending. The U.S. economy is now beginning to slowly crawl back, though, and more consumers are now preparing to spend their money – especially on gadgets.

    The Consumer Electronics Association (CEA) this week released a new report showing that consumers confidence in tech spending in October reached the highest level since those seen in 2007. The industry group’s index that measures consumer sentiment toward tech spending hit 90.2 for the month of October – a full 9.5-point jump from the previous month.

    CEA estimates that sales during November and December of 2013 will rise 4% over those same months in 2012. Total holiday spending revenue in 2013 is expected to reach $738 billion.

    “Consumer interest in tech has moved up decidedly heading into the holiday season,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Exciting product announcements coupled with early retailer promotions and advertisments are likely behind the jump in sentiment toward tech spending this month.”

    CEA believes that the overall improving economy could be a big factor in the consumer confidence boost. The group’s measurement of overall consumer sentiment toward the economy also jumped two points in October. Another factor, according to CEA, could be the recent end to the government shutdown and the raised debt ceiling.

  • Holiday Retail Sales to Hit $738 Billion

    Holiday Retail Sales to Hit $738 Billion

    October has just begun, and for many retail outlets that means dragging out the holiday decorations. With the economy slowly rebounding over the past five years, experts are now expecting to see a marginal increase in sales this holiday shopping season.

    The Consumer Electronics Association (CEA) this week predicted a 4% year-over-year increase in holiday spending during November and December of this year. That increase will allow total holiday spending in the U.S. to reach an estimated $738 billion.

    “Overall retail holiday sales growth looks healthy for 2013,” said Shawn DuBravac chief economist at CEA. “However, significant economic risks remain unresolved, and these could still negatively impact how much consumers decide to spend this holiday season.”

    Tech sales have been forecasted to be a major part of holiday spending with new tablets and video games systems coming in November. Spending on apparel, furniture, and “general merchandise” is predicted by CEA to rise by just 2.7% this holiday season.

    Online sales will be particularly important this year, as will sales on mobile devices . Online sales are expected to hit a record $57 billion this holiday season, making up over 18% of all holiday retail sales. Mobile purchases are expected to grow by 35% year-over-year to a record $8 billion in sales.

    “The online retail channel will dictate holiday sales this season,” said DuBravac. “Retailers and manufacturers should take note of shifting shopping habits as consumers increasingly turn online and to their mobile devices to make purchases.”

  • Consumer Tech Spending Could Be Slowing

    This weekend Apple once again set records, selling over 9 million iPhone 5S and 5C smartphones. With consumers willing to spend money every year on a smartphone upgrade (and mobile providers now encouraging them to do so), it would seem like tech spending will continue to skyrocket in the coming years. However, consumer tech spending could actually slow in the near future, if new data from the Consumer Electronics Association (CEA) is accurate.

    The CEA today revealed that consumer confidence toward technology spending has dropped down to levels not seen since 2009. The organization’s index for tech spending expectations fell 6.5 points in the past month.

    These results could be due to increased consumer patience. A CEA survey found that just over half (51%) of American adults intend to purchase electronics before 2014. Among those Americans, a full 62% of them stated they are waiting until Black Friday or later to make their tech purchase.

    “Despite key product launches this month, broad consumer appetite for tech showed signs of waning in CEA’s most recent sentiment readings,” said Shawn DuBravac chief at CEA. “Given some broader economic uncertainties and a generally poor back-to-school spending period, consumers might be holding back on tech purchases.”

    Though consumers seem to be putting off their tech purchases, Americans’ overall feelings toward the economy have not dipped. The CEA survey saw its index measurement for consumer sentiment about the economy drop less than one point in the previous month. Feelings about the economy have, however, dropped over 10 index points from this time last year.

  • Online Holiday Spending Hits Record $32 Billion

    Online Holiday Spending Hits Record $32 Billion

    Online retail spending for the 2010 holiday season reached $32.6 billion, representing  an increase of 12 percent compared to last year and an all-time record, according to the latest report from comScore.

    Holiday-Spending-2010

    “The 2010 online holiday shopping season was a memorable one in which we saw spending rebound strongly from the recession of 2008 and 2009, and slightly exceed even our early expectations,” said comScore chairman Gian Fulgoni. “We saw spending increase at a rate of 12 percent for the season, outpacing our forecasted 11-percent growth, and set a new holiday season record as total e-commerce spending reached $32.6 billion.”

    “This year, retailers targeted many of their promotions even earlier than usual and reaped the benefits. The season will be remembered for an exceptional Cyber Monday, which was the first billion-dollar spending day in history, and the first time we’ve witnessed Cyber Monday rank as the heaviest online spending day of the year. And of course, we cannot forget the impact of free shipping, which was used in more than half of all e-commerce transactions this season, up significantly from last year.”

    Top-Spending-Days

    For the first time since comScore began tracking ecommerce activity in 2001, Cyber Monday (Monday, Nov. 29) ranked as the heaviest online spending day of the year at $1.028 billion. It also ranks as the first online spending day on record to surpass the $1 billion spending mark. Green Monday (Monday, Dec. 13) ranked as the second heaviest day at $954 million, followed by Monday, December 6 at $943 million. Free Shipping Day (Friday, Dec. 17) ranked fourth at $942 million, while Thursday, December 16 rounded out the top five with $930 million. Eight days in total surpassed $900 million in spending this holiday season.

     

     

  • Free Shipping Drives Online Holiday Spending

    Online holiday spending has reached $27.46 billion this season, marking a 12 percent increase over the same time period versus last year, according to a new report from comScore.

    The most recent week (weekend ending Dec.17) reached $5.15 billion in spending, an increase of 14 percent compared to the same week last year, with four individual days surpassing $900 million, led by Green Monday (Monday, December 13) with $954 million and Free Shipping Day (Friday, December 17) with $942 million. Free Shipping Day achieved a 61-percent increase versus the corresponding shopping day last year, highlighting the appeal and success of the promotion in which more than 1,500 merchants offered free shipping.

    Holiday-Spending-$27-billio

    “Free Shipping Day punctuated an exceptional week in which consumers spent more than $5.5 billion online, representing a 14-percent increase from last year,” said comScore chairman Gian Fulgoni.

    “While no individual days during the week surpassed $1 billion in spending, we saw strength throughout the week beginning with Green Monday and ending with Free Shipping Day on Friday. At this late juncture in the online holiday season, we have likely already witnessed the peak spending day of the year, which means that Cyber Monday should emerge as the season’s heaviest online spending day for the first time in history.”

    comScore’s analysis of e-commerce transactions including free shipping indicated that consumers took advantage of the offer later into the season this year, in part due to the appeal of Free Shipping Day on Friday, Dec. 17. Each of the past five weeks has seen free shipping on at least half of transactions, while that threshold was reached only once during the 2009 season. For the five-day week ending with Free Shipping Day, the percentage of transactions with free shipping reached 52.7 percent, 12 percentage points higher than the corresponding time period last year, the most sizeable gap observed this season.

    Free-Shipping

    “Free shipping has certainly become one of the prevalent themes of the 2010 holiday season,” added Mr. Fulgoni. “Since the week before Thanksgiving, we’ve seen the majority of online retail transactions use free shipping, which confirms the appeal of the offer for consumers.”

    “Free Shipping Day also appears to have driven a sustained late-season response, with free shipping transactions accelerating in importance in 2010 whereas they actually began to decline during the same period in 2009.”

    Computer Hardware ranks as the top growing category for the holiday season to date with a 25-percent increase over last year. Purchases of handheld devices (such as Apple iPads and e-readers) and laptop computers drove much of the growth. Attractive pricing on flat panel TVs continues to drive growth in consumer electronics, which grew 22 percent to rank as the second fastest-growing category. Books & Magazines (up 21 percent), Computer Software excluding PC Games (up 16 percent) and Toys (up 15 percent) rounded out the top five gaining categories.

     

     

  • Online Holiday Spending Hits $23 Billion

    Online holiday spending has reached $23.82 billion, representing a 12 percent increase over the same time period last year, according to the latest report from comScore.

    The most recent week (week ending Dec. 12) reached $5.31 billion in spending, an increase of 12 percent over the corresponding week last year. Monday, December 13, known as “Green Monday” (the second Monday in December when online spending has historically tended to peak), reached $954 million in spending, representing a 12-percent increase compared to last year.

    comScore-Green-Monday

    “Green Monday represented another banner day for the 2010 holiday season with $954 million in spending, ranking as the second heaviest online spending day on record behind this year’s Cyber Monday,” said comScore chairman Gian Fulgoni.

    “Green Monday kicks off what we expect will be the heaviest online shopping week of the season right up through ‘Free Shipping Day’ on Friday, December 17. In the past, Green Monday was more reliably the heaviest day of the season, but in recent years we have seen heavy spending days occur even later into the season as consumers continue to gain confidence in retailers and shippers being able to deliver their gifts in time for Christmas.”

    As part of the comScore Holiday Shopping Survey, more than 500 people were asked about their holiday shopping for the season so far. More than one-third (35%) said they has already purchased everything they needed this season.

    Among the 65 percent who had not finished shopping, 33 percent said it was because of a lack of money available to buy the gifts they wanted. Thirty-two percent said they had not had enough time to finish shopping, while 11 percent were waiting for better deals and 6 percent said they liked last-minute shopping.

    Finished-Holiday-Shopping

    “The reasons consumers give for not having finished their holiday shopping reveal some very important dynamics driving the retail industry today,” added Mr. Fulgoni.

    “The first is that we are offered a stark reminder that many consumers are still strapped for cash and may be waiting for their mid-December paychecks before they can finish their shopping. The second important point is that it’s clear consumers have significant time constraints in their lives, which is one of the key drivers behind the continuing shift in retail dollars to the online medium, as the Internet enables people to shop for many gifts quickly and more efficiently, not to mention the cost savings that can be realized through e-commerce.”

     

     

  • Online Holiday Spending Nears $22 Billion

    Online Holiday Spending Nears $22 Billion

    U.S. online holiday spending has reached $21.95 billion during the first 40 days of the season, an increase of 12 percent over the same time period as last year, according to the latest report from comScore.

    The most recent week (week ending Dec. 10) reached $5.15 billion in spending, an increase of 11 percent versus the corresponding week last year, as two individual days each surpassed $900 million.

     

    Holiday-Spending-$22-Billio

     

    “Growth rates during the most recent week settled in at around 11 percent, which is consistent with our forecasted spending growth rate for the holiday season,” said comScore chairman Gian Fulgoni.

    “With more than $5 billion in spending this past week, it’s clear that while deal-seeking shoppers may have driven stronger than anticipated spending early in the season, Americans continue to demonstrate a significantly greater willingness to spend online this year than in seasons past. This coming week, beginning with Green Monday, should see some of the heaviest online shopping activity of the season and we expect at least one more day to surpass the billion dollar spending threshold.”

    In 2007, eBay came up with the term “Green Monday” to describe the Monday occurring around the second week of December, which has tended to be the heaviest (or among the heaviest) online spending days of the year. An analysis of the past five holiday shopping seasons reveals that “Green Monday” has had very high spending levels each year, ranking as the top spending day of the season on two occasions (2005 and 2007), and the second heaviest spending day on two other occasions (2006 and 2008). In 2009, “Green Monday” was only the fifth heaviest day of the season, with the following Tuesday, December 15 ranking as the heaviest with $913 in spending.

     

    Green-Monday

     

    “We anticipate that Green Monday this year will be another strong day for online buying, leading off what will be the heaviest spending week of the season,” added Mr. Fulgoni.

    “However, with Free Shipping Day occurring on Friday, December 17, it is likely that buying will get distributed more evenly across the week rather than concentrated so heavily in the early days of the week. As a result, several days in the upcoming week are candidates to the heaviest online spending day of the year. It’s also apparent that as consumers become more confident in the reliability of expedited shipping that they are willing to buy online later in the season.”

    Since comScore began tracking ecommerce spending in 2001, it has seen five individual shopping days surpass $900 million in spending. To date, Cyber Monday 2010 (Nov. 29) is the only billion dollar spending day on record, followed by Monday, December 6, 2010 with $943 million and Tuesday, December 15, 2009 with $913 million. Tuesday, Nov. 30, 2010 ($911 million) and Wednesday, Dec. 8, 2010 ($901 million) round out the top five. Of the ten heaviest online spending days on record, most have occurred during the early part of the work week with four occurring on Mondays, three on Tuesdays, and two on Wednesdays.

     

     

  • Online Holiday Spending Reaches $16 Billion

     Online spending for the first 33 days of the November-December 2010 holiday season has reached $16.8 billion, representing a 12 percent increase over the same time period last year, according to the latest report from comScore.

    The most recent week saw four individual days surpass $800 million in spending, led by Cyber Monday, which became the heaviest online spending day on record at $1.028 billion. Tuesday, November 30 reached $911 million, making it the third heaviest online spending day on record, while Wednesday ($868 million) and Thursday ($850 million) also reached high levels, although growth rates for the season subsided in the latter half of the week.

     

    Holiday-Spending-$16-Billio

     

    “Cyber Monday kicked off the most recent work week with an all-time record of more than $1 billion in e-commerce spending, representing a strong 16-percent growth rate versus year ago,” said comScore chairman Gian Fulgoni.

    “While we saw three more days during the week with at least $800 million in spending, growth rates slowed to single-digit levels following several weeks at about 13 percent. We believe this softening is attributable to retailers’ heavy discounting and promotional activity during the earlier part of the holiday season [through Cyber Monday], which pulled some consumer demand forward, resulting in a mild hangover effect in the days immediately following Cyber Monday. We may see another week of this effect before late season discounts and buying by procrastinators gives the season a final spending surge.”

    One trend that has surfaced since the beginning of the recession is the shift of online spending towards larger retailers, who generally have greater financial resources to invest in offering the most competitive pricing on goods and services. Growth for the holiday season to date has come almost entirely from the Top 25 online retailers, who have seen their total dollar sales grow 20 percent while overall growth among the small and mid-sized retailers has been flat.

    As part of comScore’s annual holiday shopping survey of consumers, approximately 500 Internet users were asked about the importance of social media sites influencing their purchase decisions. When asked how much they agreed with the statement “Recommendations from friends on social media sites are a great way to get gift ideas during the holiday season,” 33 percent agreed with the statement compared to 24 percent who disagreed (while 43 percent remained neutral). This finding suggests that, while social media can certainly play a role in driving holiday shopping and purchase behavior, it may not be a primary driver for many consumers.

    When asked about which specific forms of social media may have helped influenced their purchase decisions this holiday season, consumers indicated that reading a consumer-generated product review (14 percent) and reading an expert product review (10 percent) were the most likely to influence their behavior. Some respondents also indicated that following a fan page on Facebook to learn about deals and promotions (9 percent), a friend’s Facebook status update about a product/service (9 percent) and watching a product-related video (8 percent) influenced their holiday purchases this season.