MINNEAPOLIS (WCCO) — Retail analysts expects shoppers will be ready to spend big bucks on gifts this holiday season.
Accounting firm PricewaterhouseCoopers, just released its 2017 holiday outlook, which surveyed 2,400 consumers.
Dawn Eber helped analyze those findings to determine shoppers are going to spend six percent more than last year, with the average household spending $1,200 for holiday gifts.
“We are finding that the stores are alive and well,” Eber said.
Eber said 90 percent of shoppers surveyed said they’d still visit brick-and-mortar shops, and spend about half their holiday shopping budgets online.
“We found millennials are spending more on gifts and travel than older generations,” Eber said.
With so many options in stores and online, Eber predict popular shopping days like Black Friday are losing steam.
“The idea of Black Friday is significantly diminished, if not dead,” Eber said.
Eber predicts websites will need to focus on faster and free shipping options to maintain customers at a steady rate.
“There was a strong percentage of people who only want to wait one or two days when shopping online and they want it free and quick,” she said.