More Consumers Plan to Cut Holiday Spending This Year
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For the electronics categories overall, the NPD Holiday Survey shows a 20% rise in the 18 to 24 year old demographic saying electronics are the ‘gift to purchase.’ “This age group is clearly demonstrating that they feel electronics are no longer a luxury but are in fact a necessity,” said Cohen.
Apparel is also a bright spot. Last year 49 percent of consumers told NPD they intended to buy apparel as a gift; this year that number is holding at 49 percent. “That is good news for apparel,” Cohen said, “Its multi-year slip has stabilized this year.”
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- People:
- Beth Boyle
- Cohen
- Places:
- N.Y.
- PORT WASHINGTON
- U.S.
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