“Early season growth demonstrates the consumer’s willingness to spend and spells potential for retail this Holiday,” said NPD’s Chief industry Analyst, Marshal Cohen.
PORT WASHINGTON, N.Y. (PRWEB) November 24, 2017
The positive momentum seen in the first week of November 2017 strengthened in the second week. Cumulatively, NPD’s Holiday Shopping Bag shows retail sales for the first two weeks of the season up 6 percent across key general merchandise categories. However, based on the hottest products across the first two weeks, much of the consumer spending is likely still on items for themselves, rather than gifts for others.
Week Ending November 11, 2017
- Dollar sales in the second week of November 2017 were 9 percent higher than they were in the second week of November 2016.
- Small Home Appliances, Prestige Beauty, Apparel, and Athletic Footwear each experienced double-digit dollar growth, compared to last year.
- Increases in the volume of items sold and the average price paid for products both drove this week’s growth
Top Performing Categories
- Women’s Apparel (driven by Outerwear)
- Men’s Apparel (driven by Sweats/Active Bottoms)
- Sport Leisure Footwear
- Kitchen Appliances (driven by Blending & Processing)
“Early season growth demonstrates the consumer’s willingness to spend and spells potential for retail this Holiday,” said NPD’s Chief industry Analyst, Marshal Cohen. “The challenge for retail is to harness the personal need drivers behind this early spending, convert it into a continued desire to spend on more traditional gift items throughout the season, and do so in ways that extends beyond deep discounting.”
Information is collected from a panel of leading retailers that provide weekly point-of-sale data covering in-store and online sales of Apparel, Toys, Technology, Athletic Footwear, Prestige Beauty (Fragrance, Makeup, Skincare), Small Home Appliances, and Office Supplies.
Note: Shifts may occur from week to week in reporting results, due to retailer reporting updates.
For more information, or to speak with Marshal Cohen, please contact Janine Marshall, 516-625-2356 or firstname.lastname@example.org, and visit NPD’s Holiday Insights page.