Investing

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 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.

Sponsored: Want to Retire Early? Here’s a Great First Step

Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.