The National Retail Federation (NRF) has released its 2011 Holiday Consumer Intentions and Actions Survey, conducted by BIGresearch, and the report predicts a slight decrease in the average amount each shopper will spend this holiday season. According to the survey, shoppers say they plan to shell out an average of $704.18 on holiday gifts and seasonal merchandise, down slightly from last year’s $718.98. NRF still forecasts overall holiday retail sales to grow 2.8 percent during November and December to $465.6 billion.
Holiday shoppers also plan to take advantage of sales and discounts to purchase goods for themselves. Nearly six in 10 holiday shoppers (59.9 percent) say they plan to purchase additional non-gifts for themselves and their families during the holiday season. The largest portion of a consumer’s holiday budget will go to family members, with the average person spending $403.26 on kids, parents, and other family members. Additionally, an average of $68.23 will be spent on friends, followed by $21.06 on co-workers, and $23.39 on other gifts. Consumers will also spend on decorations ($46.73), greeting cards ($26.52), candy and food ($96.75), and flowers ($18.23.) Gift cards will be popular with consumers again this year, with 57.7 percent of shoppers saying they’d like to receive a gift card this holiday season.