Americans plan to spend on average $782 on holiday shopping. This is 6% more than last year according to a CNBC Holiday Central Survey. Where are they shopping?
Here are some results we thought you’d find interesting.
Average Spending up 6%
’07 - $782
’06 - $738
Where Americans Are Shopping
Big Box: 44% ('07) 49%('06) - 5%
Online: 22% ('07) 18% ('06) +4%
What’s the trade?
Jeff Macke likes Best Buy (BBY) ahead of earnings Tuesday as a trade. It’s the number one electronic retailers of it type. Also, Macke remains a seller of Starbucks (SBUX).
> Read more: What Recession? Holiday Spending Expected to Rise