Consumers to Spend $598 on Average This Holiday: Accenture
There’s a “disconnect” between consumers and retailers over holiday shopping expectations heading into Black Friday and Cyber Monday, reported Accenture Tuesday. It canvassed 1,500 consumers and ran a parallel survey of 120 retail executives, both in August, finding only 22%…
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of consumers planning to do much of their holiday shopping on those two days, compared with 42% of the retail executives who expect busy shopping activity. Consumers are planning to spend $598 on average this holiday season, compared with $539 last year, Accenture found. Older millennials (32-39 years old) anticipate spending $705 on average, the highest among any age group, it said. “Comfort with in-store shopping is returning,” despite the ongoing pandemic. Fifty-four percent of consumers overall, and 70% of Generation Zers, plan to do most of their holiday shopping in-store this season, the survey found. One surprising finding, according to Accenture -- 54% of baby boomers anticipate doing most of their shopping online.