Hot off the digital presses, we have highlights from the just completed annual Holiday Shopping and Gift Wish List report. Interviews were wrapped up on Wednesday and we've been working diligently since then compiling results and analyzing the open-ended feedback.
From the looks of it, the holiday season (already well underway considering more than a third of participants said they already made at least one holiday-related purchase) won't be a total wash out as planned spending is down, but then again, when it comes to this audience segment, we're almost always use measurements and numbers going up every year, so if anything this is kind of like a cold water reality check that even young consumers can be affected by increasingly widespread economic crisis.
We're forecasting total holiday-related spending inclusive of gifts for parents, siblings, relatives, significant others and friends as well as the "me too" purchases (the holiday gifts they purchase for themselves) to come in at $592, a drop from $634 last year. Yes, it's down, but it's not like the roof caved in. Ironically, parents of teens/college students will be beneficiaries of the drop as the amount the audience has earmarked for them has dropped the steepest to $147 from $206 last year. The audience plans to spend an average of $217 on their significant other and their other friends, about $173 on gifts for themselves and $55 on gifts for their siblings (if applicable) and other relatives.
The most wanted gift type once again is apparel and accessories. More than eight in ten participants listed apparel and accessories on their wish lists. The top mentions among female participants were layered tops from Forever 21 and H&M, sweaters and cardigans from J. Crew, camis and tanks from Urban Outfitters, hoodies and jeans from American Eagle, sport wear and casual wear from Victoria's Secret/VS Pink, cosmetic and skin care products from Sephora, t's from Forever 21 and dresses and skirts from Urban Outfitters. Noticeably absent on most female wish lists--Abercrombie & Fitch and Nordstrom, both of which were at or near the top last year. Perhaps it's no coincidence that A&F announced the other day that is same stores sale numbers were down by 20% and Nordstrom isn't faring much better.
Top apparel mentions on male gift wish lists included long sleeve t's and polos from American Eagle, J. Crew and Polo Ralph Lauren, North Face jackets and vests, jeans from AE, hoodies from PacSun and Hollister, sweaters and zip ups from Banana Republic and sport tops from Under Armour.
After apparel/accessories came cash--not terribly creative, but something that 63% of participants hope to receive from Mom and Dad nonetheless. Following cash was DVDs and digital music, tech toys and gadgets like mobile phones and digital cameras and video game titles and systems. On the aspirational front, 14% of participants listed a new vehicle (best of luck with that guys) and 11% hope to land a trip to a domestic or foreign destination.
In terms of planned shopping visits by store type, discount mass retailers will be the most heavily trafficked with nearly two thirds of participants saying they will do at least some of their holiday-related shopping at one followed by specialty retailers led by Forever 21, AE & Victoria's Secret, online stores led by Amazon and Target and department stores led by Macy's.
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