Consumer relief will spur holiday retail sales gains, predicts Coopers & Lybrand L.L.P.NEW YORK--(BUSINESS WIRE)--Nov. 22, 1994--Consumer confidence in the economy combined with increased spending budgets should make this year's holiday season bright for American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of retailers, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Coopers & Lybrand L.L.P. "We're we're Contraction of we are. we're we are predicting overall sales gains of 6.5 percent over last year's holiday season," says Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. J. Gade n. 1. (Zool.) A small British fish (Motella argenteola) of the Cod family. , chairman of Coopers & Lybrand's national Retail and Distribution Group. "And despite early price breaks due to heavy merchandise in stores, retailers should not be discouraged dis·cour·age tr.v. dis·cour·aged, dis·cour·ag·ing, dis·cour·ag·es 1. To deprive of confidence, hope, or spirit. 2. To hamper by discouraging; deter. 3. if they don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. see sales increases early in the holiday buying season. Many consumers will be waiting until the last minute to complete their gift-buying." Clothes, including fads, will be "especially hot," notes Gade, as people purchase the "non-essential non-essential Adjective not absolutely necessary non-essential adj → unnötig n non-essentials → nicht (lebens)notwendige Dinge pl " items they put off buying for children and spouses. In a separate study, Coopers & Lybrand's Minneapolis Minneapolis (mĭn'ēăp`əlĭs), city (1990 pop. 368,383), seat of Hennepin co., E Minn., at the head of navigation on the Mississippi River, at St. Anthony Falls; inc. 1856. office surveyed shoppers at Mall of America Mall of America (also MOA, MoA, or the Megamall) is a shopping mall located in the Twin Cities suburb of Bloomington, Minnesota. It is just southeast of the junction of Interstate 494 and Minnesota State Highway 77, and is across the interstate from the , the nation's largest retail and entertainment complex, to determine consumer holiday spending habits. Almost half of those surveyed (45 percent) do a significant amount of their holiday gift shopping before Thanksgiving Thanksgiving annual U.S. holiday celebrating harvest and yearly blessings; originated with Pilgrims (1621). [Am. Culture: EB, IX: 922] See : America Thanksgiving national holiday with luxurious dinner as chief ritual. [Am. Pop. , although most do not finish their buying until the last week before Christmas--42 percent by Dec. 20 and 22 percent by Christmas Christmas [Christ's Mass], in the Christian calendar, feast of the nativity of Jesus, celebrated in Roman Catholic and Protestant Churches on Dec. 25. In liturgical importance it ranks after Easter, Pentecost, and Epiphany (Jan. 6). Eve. The survey found that 58 percent wait to purchase holiday gifts on sale and lists from family and friends most influence gift selections (43 percent), followed by browsing See browse. (37 percent). The complete survey and results are attached. As Coopers & Lybrand predicted earlier in the year, parents are buying children school clothes as they need them and closer to the season. Basics will continue to be popular this season as the price/value relationship is noticed by consumers and as discounters extend their quality private label lines. Sales of electronic toys--especially educational ones--will benefit from consumers' relaxing about money and parents desire to pamper pam·per tr.v. pam·pered, pam·per·ing, pam·pers 1. To treat with excessive indulgence: pampered their child. 2. their children a bit more this year. But toy sales in general are being bolstered bol·ster n. A long narrow pillow or cushion. tr.v. bol·stered, bol·ster·ing, bol·sters 1. To support or prop up with or as if with a long narrow pillow or cushion. 2. by big chains' promotional efforts. Another area which could see a strong upsurge is durables Durables A category of consumer goods, durables are products that do not have to be purchased frequently. Some examples of durables are appliances, home and office furnishings, lawn and garden equipment, consumer electronics, toy makers, small tool manufacturers, sporting goods, such as appliances. "With more money to spend, people are indulging friends and relatives to a greater degree," says Gade. One of the world's leading professional firms, Coopers & Lybrand L.L.P. provides services for enterprises in a wide range of industries. The firm offers it clients the expertise of more than 16,000 professionals and staff in offices located in 100 U.S. cities and, through the member firms of Coopers & Lybrand (International), more than 66,000 people in 125 countries worldwide. -0-
Coopers & Lybrand L.L.P.
Mall of America Shoppers Survey
November 1994
Results Summary
1. Are you planning on spending more, less or about the same on
holiday gifts this season compared to last year?
More 29.3%
Less 21.4
About the same 47.3
Don't know 2.0
2. What types of gifts are you planning to buy?
Books 32.7%
Clothes 76.7
CDs/records/videos 24.0
Electronics 16.7
Food 6.7
Household items 24.7
Jewelry 18.7
Perfume/cologne 15.3
Sports equipment 16.7
Toys 45.3
Other or none 7.3
Don't know 3.3
3. How much money will your household spend this year on holiday
gifts?
$0 0.0%
$1 to $99 2.7
$100 to $299 24.7
$300 to $499 24.7
$500 to $699 16.0
$700 to $999 10.0
$1,000 or more 16.7
Don't know 5.3
4. In general, do you consciously wait to purchase holiday gifts
until they go on sale?
Yes 58.0%
No 42.0
5. Which of the following types of retailers will you buy most of
your holiday gifts from this year?
Catalogs 2.7%
On-line computer shopping 0.0
Department stores 50.7
Discount stores 28.7
Small specialty stores 8.7
Super stores 8.0
TV/home shopping 0.0
Don't know 1.3
6. When you shop at stores for holiday gifts this year, which of
the following places will you go most often?
Strip malls 9.3%
Enclosed suburban malls 54.7
Downtown 7.3
Neighborhood stores 5.3
Discount outlet malls 22.0
Other or none 0.7
Don't know 0.7
7. What percent of your holiday gifts will you buy this year
through mail-order catalogs?
Less than 25% 70.7%
25% to 50% 7.3
More than 50% 4.0
Don't know 18.0
8. Which one of the following factors most influences what holiday
gifts you buy?
List provided by family and friend 43.3%
Browsing 37.3
Catalogs 2.7
Newspaper 7.3
Coupons 2.0
TV/radio commercials 0.6
Flyers 2.0
Other or none 2.7
Don't know 2.0
9. Do you do a significant amount of your holiday gift shopping
before Thanksgiving?
Yes 44.7%
No 54.7
Don't know 0.7
10. Do you finish most of your holiday shopping by:
Thanksgiving 15.3%
Dec. 1 20.0
Dec. 20 42.0
Dec. 24 22.0
Don't know 0.7
CONTACT: Coopers & Lybrand, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Amy J. Goldberger, 212/536-3256 |
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