General Growth Properties Online Survey Reveals the Mall Reigns Supreme for Holiday Shopping
November 20 2006 - 7:00AM
Business Wire
Consumers look to the mall as the number one place they visit to
tackle their holiday shopping lists. In fact, a recent online
survey(1) conducted by General Growth Properties, Inc. (NYSE:GGP)
shows two-thirds of respondents will do the majority of their
holiday shopping at the mall. �The mall is the most popular place
to shop. It offers an experience during the holidays that is unique
for shoppers,� said John Bucksbaum, chief executive officer of
General Growth Properties. �At our more than 200 GGP centers across
the country, we provide special services and amenities that make
holiday shopping fun and enjoyable for the entire family.� Even
those who stated the mall is just one of many venues they visit to
complete their holiday shopping, more than half � 54 percent �
revealed that one to three-quarters of those gifts purchased will
come from the mall. And, with the busy shopping season getting
underway, consumer spending is anticipated to be up nearly $250 per
person compared to last year. On average, consumers expect to spend
$879 on holiday gifts this year, compared to approximately $632 in
2005. Shoppers also are watching their credit card debt. Sixty
percent say they will use cash, debit card or check to pay for
their holiday purchases. Overall, consumers are once again in the
gift-giving mood this holiday season. Key findings include: More
than half of respondents � 56 percent � will start their holiday
shopping before Thanksgiving. Procrastinators are the exception.
Only six percent will dash out to purchase last-minute holiday
gifts. On average, respondents revealed they shop for 11 people.
Children are the most popular when it comes to holiday gift buying,
with 51 percent saying their child is their favorite person to shop
for. Fifty-three percent will spend the most money on their kids.
People prefer purchasing their own gifts, with 55 percent wanting
cash or a mall/store gift card as a holiday present. The family pet
is rarely forgotten. More than 80 percent of pet owners reveal they
will spend $10 to $25 on their beloved animal(s). The gift-giving
spirit is in full bloom. Seventy percent of respondents will donate
to a charity during the holiday season. General Growth Properties,
Inc. is the second largest U.S.-based publicly traded Real Estate
Investment Trust (REIT). General Growth currently has an ownership
interest in or management responsibility for a portfolio of more
than 200 shopping malls in 44 states, as well as ownership in
planned community developments and commercial office buildings. The
portfolio totals approximately 200 million square feet of retail
space and includes more than 24,000 retail stores nationwide.
General Growth Properties, Inc. is listed on the New York Stock
Exchange under the symbol GGP. For more information, please visit
the Company Web site at http://www.generalgrowth.com. (1) General
Growth Properties Inc. Consumer Research Department conducted an
online survey with more than 1,100 shoppers in August 2006. The
survey has a margin of error of � 3 percent. Consumers look to the
mall as the number one place they visit to tackle their holiday
shopping lists. In fact, a recent online survey(1) conducted by
General Growth Properties, Inc. (NYSE:GGP) shows two-thirds of
respondents will do the majority of their holiday shopping at the
mall. "The mall is the most popular place to shop. It offers an
experience during the holidays that is unique for shoppers," said
John Bucksbaum, chief executive officer of General Growth
Properties. "At our more than 200 GGP centers across the country,
we provide special services and amenities that make holiday
shopping fun and enjoyable for the entire family." Even those who
stated the mall is just one of many venues they visit to complete
their holiday shopping, more than half - 54 percent - revealed that
one to three-quarters of those gifts purchased will come from the
mall. And, with the busy shopping season getting underway, consumer
spending is anticipated to be up nearly $250 per person compared to
last year. On average, consumers expect to spend $879 on holiday
gifts this year, compared to approximately $632 in 2005. Shoppers
also are watching their credit card debt. Sixty percent say they
will use cash, debit card or check to pay for their holiday
purchases. Overall, consumers are once again in the gift-giving
mood this holiday season. Key findings include: -- More than half
of respondents - 56 percent - will start their holiday shopping
before Thanksgiving. -- Procrastinators are the exception. Only six
percent will dash out to purchase last-minute holiday gifts. -- On
average, respondents revealed they shop for 11 people. -- Children
are the most popular when it comes to holiday gift buying, with 51
percent saying their child is their favorite person to shop for.
Fifty-three percent will spend the most money on their kids. --
People prefer purchasing their own gifts, with 55 percent wanting
cash or a mall/store gift card as a holiday present. -- The family
pet is rarely forgotten. More than 80 percent of pet owners reveal
they will spend $10 to $25 on their beloved animal(s). -- The
gift-giving spirit is in full bloom. Seventy percent of respondents
will donate to a charity during the holiday season. General Growth
Properties, Inc. is the second largest U.S.-based publicly traded
Real Estate Investment Trust (REIT). General Growth currently has
an ownership interest in or management responsibility for a
portfolio of more than 200 shopping malls in 44 states, as well as
ownership in planned community developments and commercial office
buildings. The portfolio totals approximately 200 million square
feet of retail space and includes more than 24,000 retail stores
nationwide. General Growth Properties, Inc. is listed on the New
York Stock Exchange under the symbol GGP. For more information,
please visit the Company Web site at http://www.generalgrowth.com.
(1) General Growth Properties Inc. Consumer Research Department
conducted an online survey with more than 1,100 shoppers in August
2006. The survey has a margin of error of +/- 3 percent.
GGP Inc. (NYSE:GGP)
Historical Stock Chart
From Jul 2024 to Jul 2024
GGP Inc. (NYSE:GGP)
Historical Stock Chart
From Jul 2023 to Jul 2024