Boulder, CO (PRWEB) November 27, 2013
Retailers are gearing up for the prime holiday season, which kicks off this week with Black Friday and Cyber Weekend. However, cash registers may not be ringing as loudly as they would like. According to a holiday spending study of more than 4,300 consumers conducted by Market Force Information, most are planning to spend the same or less than they did in 2012.
Market Force, a worldwide leader in customer intelligence solutions, has summarized its key findings in the accompanying infographic entitled Holiday Spending 2013.
Nationwide, consumers are still struggling to overcome tough economic conditions, and this seems to be influencing their shopping plans. The study found that more than half expect to spend about the same as they did last year, while 29% said that they’ll spend less. Most are cutting back because they can’t afford to buy, prices are too high and the future is uncertain.
Market Force’s research also revealed that consumers will do the bulk of their retail shopping online this year, with 46% believing that online bargains will be better than ever, and another 44% favoring the online shopping experience. In fact, many are bah-humbug about visiting stores this time of year, as one-third said they dislike the feel of malls and shopping areas during the holidays and 21% said they dislike the in-store shopping experience.
Toys & Games may be the bright spot for retailers this year. Out of the five categories studied, 11% indicated they plan to spend more on toys & games, while 8% said they plan to increase their spending on consumer electronics, fashion and dining out, and 5% on sporting goods.
About Market Force Information
Market Force is the leading global customer intelligence solutions company for multi-location businesses, including major retailers, restaurants, grocery and convenience stores, financial institutions, entertainment studios and consumer packaged goods companies. Market Force Information has pioneered the industry with a suite of customer intelligence solutions – including proprietary decision-support tools, mystery shopping, customer and employee feedback surveys, contact center solutions, social media monitoring, and a powerful customer intelligence platform, KnowledgeForce℠. A unique asset is the company’s 600,000 independent contractors across North America and Europe that can collect data in retail locations on behalf of client brands. Market Force solutions enable brands to identify the actions required at the store level to increase customer loyalty and improve financial performance. Market Force was named one of Forbes’ America’s Most Promising Companies and has won numerous awards for its technology and innovation. For more information, visit http://www.marketforce.com.