Black Friday is just weeks away, which means surveys and predictions concerning holiday sales are as abundant as fallen leaves in Vermont. According to the latest survey, from NPD Group, year-over-year growth looks to be modest.
The 1,823 consumers surveyed last month expect to spend an average of $728 on holiday gifts this year, up nearly 7% from the $681 they spent last holiday season.
Discount stores and mass merchant retailers are the most popular destinations for those surveyed, followed by retail chains and the Web.
Clothing is the most popular product category: 65% of those surveyed expect to buy clothes as part of their holiday shopping; last year 64% bought clothes. Toys are number two on the list, with 47% expecting to buy them, while 45% had bought them last year. But fewer consumers expect to buy electronics this year than actually did buy them last year: 43% compared with 55%.