Shopping in America Survey: Bright Forecast Predicted for Holiday Spending, Mixed Concerns Over Gas Prices; Fashion, Toys & Elec
October 25 2005 - 11:07AM
Business Wire
Americans are keeping a merry outlook for the holiday shopping
season, despite the reported impacts of recent natural disasters
and increased energy prices. U.S. consumers plan to spend an
average of $955 for holiday-related purchases -- up 6.3 percent
from last year, according to the Shopping in America Holiday 2005
survey conducted for The Macerich Company (NYSE:MAC) by August
Partners. The figure includes an average of $655 for gifts, with an
additional $316 for parties, decorations and other seasonal
purchases. Many shoppers are getting an early start on the holiday
hustle and bustle, according to the survey. A third (33 percent) of
those surveyed will begin their serious holiday shopping before
Thanksgiving. Twenty-eight (28) percent plan to begin on Black
Friday (the day after Thanksgiving), 15 percent will begin shopping
between November 26-30; the remainder of shoppers will wait until
December. Holiday Gift Spending When it comes to gift giving, the
average consumer will spend 7.8 percent more compared to last
year's survey -- $655.30 vs. $608.15, respectively. Shoppers will
spend an average of $66.87 for each of the 9.8 recipients on the
gift list. "American consumers are planning to spend more on
holiday gifts and other purchases this year, but increases in gas
prices are still a concern for some," explains Garry Butcher, vice
president of marketing and consumer research for The Macerich
Company. "More than a third (37 percent) surveyed say they will
spend less than they might have otherwise due to the recent gas
hikes, however, 41 percent say increased prices at the pump will
have no effect." Twenty-three (23) percent are undecided. Gift
Giving: by the Numbers By age, shoppers 45-to-54 and 35-to-44 have
the largest budgets for holiday gifts, at above $800. -0- *T
Spending by Age
----------------------------------------------------------------------
12 - 17 $332.54 ---------------------------------
---------------------------------- 18 - 24 $487.87
---------------------------------
---------------------------------- 25 - 34 $665.82
---------------------------------
---------------------------------- 35 - 44 $831.27
---------------------------------
---------------------------------- 45 - 54 $889.17
---------------------------------
---------------------------------- 55 - 64 $791.64
---------------------------------
---------------------------------- 65 - 74 $676.78
---------------------------------
---------------------------------- 75+ $643.18
---------------------------------
---------------------------------- *T Regionally, consumers in the
West will spend the most on holiday gifts at $684.70, followed by
the Northeast at $672.79 and the South at $666.49. Midwesterners
will spend the least with an average of $549.33. Female shoppers
($674.51) will outspend male shoppers ($621.62) on average by
almost $53.00. Men, however, will spend more for each person on
their gift list at $71.45 for 8.7 recipients versus the $63.63
average that women will spend for the 10.6 people on their lists.
Shopping Sources "The majority of shoppers will be headed to the
mall this holiday season," says Butcher. According to the Shopping
in America survey, 42 percent will shop at mall stores and another
21 percent will shop at mall department stores. Discount stores
ranked as the third most popular holiday shopping destination,
selected by 9 percent of shoppers, followed by catalogs (8
percent). Only 6 percent of shoppers plan to shop online. -0- *T
Shopping Sources
------------------------------------------------------------- Mall
Stores 42% -----------------------------------
------------------------ Mall Department Stores 21%
----------------------------------- ------------------------
Discount Store/Outside Mall 9% -----------------------------------
------------------------ Catalog 8%
----------------------------------- ------------------------ Online
6% ----------------------------------- ------------------------
Specialty Store/Outside Mall 5% -----------------------------------
------------------------ Other 2%
----------------------------------- ------------------------ Not
Certain 7% -----------------------------------
------------------------ *T Holiday Gift Categories Clothing, toys
and electronics will fill the most packages under the tree,
selected by consumers as the top categories for holiday gift
spending. Jewelry, books/CDs and mall gift cards/certificates also
ranked high with shoppers. -0- *T Holiday Gift Categories
-------------------------------------------------------------
Clothing 21% -----------------------------
----------------------------- Toys 12%
----------------------------- -----------------------------
Electronics 12% -----------------------------
----------------------------- Jewelry 11%
----------------------------- -----------------------------
Books/CDs 11% -----------------------------
----------------------------- Mall Gift Card/Certificate 10%
----------------------------- ----------------------------- Fashion
Accessories 9% -----------------------------
----------------------------- Home Furnishings 5%
----------------------------- -----------------------------
Appliances 3% -----------------------------
----------------------------- Other 7%
----------------------------- ----------------------------- *T
Shopping in America results for top holiday gifts -- from
electronics, to toys and best gifts for men and women -- will be
announced in early November. Shopping in America is a national
shopper intercept survey that studies consumer-shopping trends. The
Holiday 2005 survey was conducted among 3,780 shoppers in 12
regional shopping centers geographically spread throughout the
United States. Respondents ranged in age from 12 to 75+ years. Not
all results are stated in this news release and some are rounded to
the nearest whole number. Data totals are subject to a +/- 1.6
percent margin of error. To view additional Shopping in America
results, visit www.shoppinginamerica.biz. The Macerich Company is a
fully integrated self-managed and self-administered real estate
investment trust, which focuses on the acquisition, leasing,
management, development and redevelopment of regional malls
throughout the United States. The Company is the sole general
partner and owns an 81% ownership interest in The Macerich
Partnership, L.P. Macerich owns approximately 79 million square
feet of gross leaseable area consisting primarily of interests in
76 regional malls. Additional information about The Macerich
Company can be obtained from the Company's web site at
www.macerich.com.
Macerich (NYSE:MAC)
Historical Stock Chart
From May 2024 to Jun 2024
Macerich (NYSE:MAC)
Historical Stock Chart
From Jun 2023 to Jun 2024