Young Adults Likeliest Group to Increase Holiday Spending This Year, Says NRF
Though U.S. consumers at large are expected to spend about the same this holiday season as they did last year, those ages 18-24 “are the most likely to show an increase in spending,” said the National Retail Federation in a…
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Thursday report. NRF canvassed 7,400 consumers in early November and found 54 percent overall plan to spend about the same as last year, with 24 percent planning to spend more, it said. But among those in the 18-24 group, 46 percent said they will spend more than last year, it said. About six in 10 consumers overall plan to buy clothing and accessories, the same as last year, while 59 percent will buy gift cards, up from 56 percent in 2016, it said. Nearly three in 10 plan to buy electronics, about on par with last year.