The following are highlights from Nielsen's Holiday Spending and Black Friday/Cyber Monday forecast:
MOVE OVER, BLACK FRIDAY – CONSUMERS PREFER SHOPPING ON CYBER MONDAY
- 85% of consumers are skipping Black Friday this year, part of a 4 year downward trend.
- Nearly 50% of consumers say they will shop online this Cyber Monday, a 16 point increase from 2012.
- 51% say they will do their Black Friday shopping online – Black Friday might be merging with Cyber Monday as consumers search for deals in comfort.
- Big ticket items top the list such as electronics like phones, computers, laptops, iPads and eReaders (70%), apparel (59%) and toys (46%).
TIS THE SEASON TO BE FISCALLY CAUTIOUS: HOLIDAY SPENDING FORECAST
- Nearly a quarter (22%) of US consumers report that they have already started their holiday shopping.
- US consumer sentiment is at its highest point in 5 years: 98 on the Nielsen Consumer Confidence Index but consumers are still feeling the sting of the recession and of rising inflation.
- Nielsen expects a marginally stronger holiday shopping season in 2013 compared to 2012.
- The majority of holiday spending is expected to be between $250 to $500 this season, consistent with 2012 spending.
- Gift Cards, Tech Products, and Toys are expected to be top sellers this holiday season.