The air is crisp and there’s even snow on the ground in a few parts of the country. Fall festivals and pumpkins are just about everywhere. Yes, it’s October, which means it’s time to think about…Christmas? While retailers are already gearing up for the holiday season this month, they’re not the only ones: in fact, almost 40% of Americans plan to start their holiday shopping before Halloween. That explains those tree trimmings, plastic Santas and garland in the stores.
With the holidays on everyone’s mind, NRF vice president Ellen Davis joined CNBC’s Power Lunch yesterday to discuss everything and anything you could possibly want to know about our 2010 holiday spending survey, released yesterday.
During the interview, Davis outlines why there is actually a bit more room for optimism this year. Not only are consumers expected to spend more, but they’ll be buying more discretionary items like jewelry. She also notes that more people are expected to spend on themselves this year as well – a trend not seen since pre-recession.
Davis also outlines how retailers’ inventory levels will still be lean but that consumers will still win in the end with promotions, coupons and sales – and that it’s not only about value, it’s also about convenience. Although, she notes, the economy is still on people’s minds, so consumers will continue to be realistic with their shopping budgets.