ICSC: holiday retail sales to increase 3.8%, almost all shoppers plan to buy in store

By

Obi Anyanwu

Published
Sep 25, 2017

The International Council of Shopping Centers (ICSC) reported on Thursday that it expects 3.8% year-over-year growth in retail sales this holiday season, and according to the ICSC’s Holiday Shopping Intentions Survey, consumers are expected to spend on average $728.40 on gifts and other holiday related items.

 
Though e-commerce tends to be the more popular shopping destination, 96% of shoppers plan to make a purchase from a retailer that has a physical and online presence, with 91% buying at physical locations.
 
92% of millennial shoppers plan to spend money in a physical store, and 57% plan to shop on Black Friday (more than any other age group).

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Most shoppers are not planning to wait until after Thanksgiving dinner to begin shopping. The ICSC found that 66% of consumers are planning to shop before Thanksgiving, and 27% began shopping in August. Gift cards are expected to be the most popular gift this year followed by apparel and footwear, then toys and games and finally electronic devices.