Trump and Clinton Weighing on Holiday Shopping Season?
While the election may be eating up ad space usually used for holiday shopping, the National Retail Federation’s forecast for holiday spending now calls for a decline in holiday spending per consumer this year. Setting the table for what could be another lackluster holiday shopping season as the Cash-strapped Consumer pinches the purse strings?
According to the National Retail Federation‘s annual consumer spending survey, shoppers may have a more conservative holiday spending budget as a result of the upcoming election.
Consumers expect to spend an average of $935.58 during the holiday shopping season on a growing list of items, including gifts for others, self-spending, food, flowers, decorations and greeting cards for Christmas, Hanukkah and Kwanzaa.
Last year, the record total spending, on average, was $952.58.
“Everywhere you turn — whether you’re picking up a newspaper or watching television — political advertisements are taking up ad space that retailers typically use to get holiday shopping on the minds of consumers across the country,” NRF President and CEO Matthew Shay said in a statement.
“Once the election has passed, we anticipate consumers will pull themselves out of the election doldrums and into the holiday spirit.”
Source: Holiday Shopping To Surge Post-Election | PYMNTS.com
