Americans Are Ready To Spend This Holiday Season

Holiday Shopping

A new survey suggests that Americans are more willing to open up their wallets than they have in the last few years.

The survey from Accenture shows that 40% of U.S. consumers plan to spend more on holiday gifts this year compared to 2014. Last year holiday retail sales climbed 4% while just 25% of shoppers expected to increase their holiday budget.

This year online shopping is the top choice among consumers. Accenture says 54% of consumers prefer to use a brick-and-mortar retailer’s website, and 65% will employ “showrooming”—the practice of checking items in stores before purchasing online. Just over two-thirds (69%) also plan to go online before making a purchase at the store.

The Accenture Holiday Shopping Survey used an online poll with a sample of 1,537 U.S. consumers.

The survey also revealed that half of respondents are likely to get a head start on Black Friday and shop on Thanksgiving Day, while 28% believe the time should be spent with family.

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The U.S. Commerce Department revealed last week that personal spending increased by just 0.1% in September, the slowest pace since January.

The National Retail Federation believes November and December will produce sales growth numbers that are in line with last years total. It forecasts a 3.7% increase to $630.5 billion.

With big box retailers and many e-commerce platforms relying on Black Friday and other holiday sales to turn a profit, retailers are banking on higher sales.

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.