CNBC Survey Shows Holiday Shopping to Rise 22% (WMT, BBY, AMZN, AAPL, GRPN, TIF, M, SKS, TGT)
If the recent CNBC survey of US holiday shoppers accurately portrays what these shoppers plan to spend this year, US retailers can expect a pretty good year. Those surveyed said they plan to spend an average of $751 dollars on…
If the recent CNBC survey of US holiday shoppers accurately portrays what these shoppers plan to spend this year, US retailers can expect a pretty good year. Those surveyed said they plan to spend an average of $751 dollars on gifts this year, a rise of 22% over 2010 spending. The companies identified as getting the biggest boost are big-box stores like Wal-Mart Stores Inc. (NYSE: WMT) and Best Buy Co. Inc. (NYSE: BBY), online sites like Amazon.com (NASDAQ: AMZN), product makers like Apple Inc. (NASDAQ: AAPL), and coupon services like Groupon Inc. (NASDAQ: GRPN).
Shoppers with incomes greater than $75,000 plan to increase their spending even more, up 46% according to the survey. That’s good news for high-end retailers like Tiffany & Co. (NYSE: TIF), the Bloomingdale’s stores of Macy’s Inc. (NYSE: M), and Saks Inc. (NYSE: SKS).
Homeowners who believe that the value of their house will increase plan to spend nearly double the overall average, and shoppers who think they’ll be getting a pay raise in 2012 plan to spend 56% more than they did last year.
The most popular destinations are the big box stores like Walmart and Best Buy, where 42% of shoppers say they plan to do most of their spending. The second most popular destination is on-line shopping sites like Amazon, as well as the well-trafficked on-line sites from retailers like Walmart and Target Corp. (NYSE: TGT).
CNBC’s survey also noted that 18% of shoppers planned to purchase a product from Apple and that 9% will use an on-line coupon service like Groupon to save money during the holiday shopping season.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
