COLORADO SPRINGS, Colo., Nov. 18, 2015 (GLOBE NEWSWIRE) -- Based on early spending reports from the National Retail Federation, products in the General Merchandise category including clothes and jewelry will be the first gifts to fly off store shelves. Global Market Development Center, a leading General Merchandise and Health Beauty Wellness trade association, says stores can capitalize on this trend with smart, innovative products and merchandising.
According to the NRF’s most recent consumer report, the top five items shoppers say they’ll purchase this season are:
- Apparel or clothing accessories - 60 percent
- Gift cards – 56 percent (down from 60 percent last year, although gift cards remain the most requested holiday item)
- Books, CDs, DVDs and/or video games - 46 percent
- Toys - 41 percent
- Jewelry - 21 percent
“The positive emotional connections that come with the holidays becomes an important opportunity for retailers and trading partners to demonstrate their understanding of shopper needs and execute flawlessly to meet them,” says Mark Mechelse, director of research, industry insights and communications at GMDC. “Seasons are so critical to retailer success and shoppers evolve so rapidly in how they buy for them, that stores and manufacturers must constantly think “what’s next” to refine their efforts to appeal and satisfy.”
Earlier this year, NRF predicted sales in November and December (excluding autos, gas and restaurant sales) to increase a solid 3.7 percent to $630.5 billion — significantly higher than the 10-year average of 2.5 percent. Holiday sales in 2015 are expected to represent approximately 19 percent of the retail industry’s annual sales of $3.2 trillion. Additionally, NRF is forecasting online sales to increase between 6 and 8 percent to as much as $105 billion.
In a release earlier this month, NRF President and CEO Matthew Shay said retail sales over the last few months have been solid, with more growth expected through the holiday season. Shay offered important retail insight: consumers are keeping the economy in mind when deciding on holiday purchases. “We expect families to spend prudently and deliberately, though still less constrained than what we saw even two years ago,” he said.
Global Market Development Center (GMDC) energizes members and the marketplace by advancing a culture of Connect-Collaborate-Create-Commerce. As the leading GM and HBW trade association, GMDC is dedicated to serving its ecosystem of more than 600 General Merchandise and Health Beauty Wellness retailers, wholesalers, suppliers and service/solution member companies by enabling consumer-facing innovation and retail reimagined. GMDC's combined member volume represents more than 125,000 retail outlets and more than $500 billion in sales. To learn more, visit www.gmdc.org.
About the National Retail Federation
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. nrf.com.