IE Business Daily Business news for the Inland Empire.
Fifty four percent of U.S. consumers say they expect to give out clothes or clothing accessories as gifts this holiday season, according to a report.
A record number of people (183.4 million) are expected to shop during the Thanksgiving holiday weekend and a new survey from the National Retail Federation and Prosper Insights & Analytics revealed forty four percent of people said their Christmas gifts in 2024 will include a gift card for a friend or loved one. Thirty-six percent will buy toys, 31 percent will purchase a book, video or something else in media, and 30 percent will give out food or candy.
The internet is still the most popular source for gift ideas: 44 percent of shoppers said they will go online to help them decide what to buy. Other popular sources include friends and family (36 percent), in store (30 percent) and wish lists (26 percent).
The New York-based federation has predicted that holiday spending will reach record levels during November and December, to somewhere between $979.5 billion to $989 billion.
