The National Retail Federation (NRF) 2003 Holiday Consumer Intentions and Actions Survey found that the average consumer plans to spend $671.89 this holiday season, up from 2002 when consumers spent an average of $648.85.
The survey also found that 92.2 percent of consumers plan to celebrate Christmas, 5.8 percent will celebrate Hanukkah, and 1.6 percent will celebrate Kwanzaa.
On average, consumers plan to spend $518.44 on gifts this year--$393.69 on gifts for family members, $73.27 on friends, $17.16 on co-workers, and $34.32 on other gifts. Consumers also plan to spend $34.18 on decorations, $25.79 on greeting cards and postage, $79.42 on candy and food, and $14.06 on flowers. This year, more than half of consumers (50.8%) also plan to take advantage of sales and promotional items to purchase non-gift items for themselves, with the average consumer purchasing additional items planning to spend $146.69.
NRF projects that holiday sales will increase 5.7 percent this year to $217.4 billion, which would be the largest increase since 1999.
The survey also found that 92.2 percent of consumers plan to celebrate Christmas, 5.8 percent will celebrate Hanukkah, and 1.6 percent will celebrate Kwanzaa.
On average, consumers plan to spend $518.44 on gifts this year--$393.69 on gifts for family members, $73.27 on friends, $17.16 on co-workers, and $34.32 on other gifts. Consumers also plan to spend $34.18 on decorations, $25.79 on greeting cards and postage, $79.42 on candy and food, and $14.06 on flowers. This year, more than half of consumers (50.8%) also plan to take advantage of sales and promotional items to purchase non-gift items for themselves, with the average consumer purchasing additional items planning to spend $146.69.
NRF projects that holiday sales will increase 5.7 percent this year to $217.4 billion, which would be the largest increase since 1999.
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