On today’s Business Beat, Jeff reveals the latest survey results on consumers’ holiday spending.
Tune in to the Business Beat, below, to learn about where consumers say they will shop and why it’s important to shop local:
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<!– wp:canvas/collapsibles {“canvasClassName”:”cnvs-block-collapsibles-1627325879973″,”canvasLocation”:”root”} –> <!– wp:canvas/collapsible {“canvasClassName”:”cnvs-block-collapsible-1627325880052″,”canvasLocation”:”default”,”title”:”WJR Business Beat Transcript”} –> Good morning, Paul! Today on the Beat, we’ve got an update on how the holiday shopping season is shaping up and things look good. The latest survey regarding likely consumer spending this holiday season is good news for our local shops. A survey just released from JLL finds that consumers plan to spend an average of $870 per person on holiday shopping this year resulting in an increase in spend overall. Now other surveys indicate in similar fashion that holiday spending should be up. The NPD Group earlier this month predicted the shoppers plan to spend between 3% and 5% more this year than they did last year. Deloitte’s research projected holiday sales would grow between 7% and 8% from last year and e-commerce sales could see 11% to 15% jump in spend. Other insights from the most recent surveys? Well, the JLL survey reports that 60% of survey respondents planned to buy their goods online from an online- only retailer, while 58% of the respondents planned to shop in stores this year. Now what compels shoppers to ring those cash registers this year? Well, not surprisingly, more than a third of those surveyed said that saving is still their top priority when it comes to purchase. Now as you go out and shop this year, remember to focus not only on saving, but on buying from a local independently owned shop wherever and whenever you can. Not surprisingly, Amazon, Target and Walmart will take the lion’s share of spend this year, but it’s the local merchants who need your dollars most. When you shop locally, you keep your dollars in your local communities going to work to beautify and upgrade sidewalks and parks as well as to keep people employed. And there is no better gift than that. I’m Jeff Sloan, founder and CEO of startupnation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR. <!– /wp:paragraph –><!– /wp:canvas/collapsible –>
