This week, the National Retail Federation released survey results about how much consumers plan to spend this holiday season. While still not back up to pre-recession levels, the research indicates a rise in spending compared to last year. (Click on the image to the right to see a larger version of the graph.) To see the online version of the NRF release, click here. Perhaps more importantly, the NRF is developing some ideas about what kinds of priorities will drive purchase decisions this year. (See the follow-up article posted immediately above on the Elm Street Trends blog.)
Implications: The words, “pent-up demand” come to mind. If the recession officially started in December, 2007, then folks will have had about 36 months worth of news about economic turmoil just as the holidays approach this year. Perhaps folks are just tired of denying themselves a little fun… and the holiday season provides just the rationale they need to enjoy life a little.
Mike Anderson
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