As the global economy continues to struggle, many consumers are feeling the pinch. Despite the uncertainty, however, a recent survey has revealed that people are still planning to spend big this holiday season.
The survey, conducted by the National Retail Federation, found that the average consumer plans to spend $1,047 on gifts, decorations, and other holiday-related items. This is a slight increase from last year, when the average was $1,007.
The survey also revealed that the majority of consumers are feeling the financial strain of the pandemic. Nearly two-thirds of respondents said they were worried about their finances, yet they still plan to spend more than last year.
This could be due to the fact that many people are feeling the need to make up for lost time. With the pandemic keeping people apart for much of the year, many are looking to make the holidays extra special.
The survey also found that the majority of consumers plan to shop online this year. This is likely due to the convenience and safety of shopping from home.
Overall, the survey shows that despite the economic uncertainty, consumers are still planning to spend big this holiday season. With the right strategies, retailers can capitalize on this trend and make the most of the holiday shopping season.