Shoppers Set to Spend
A survey of 2,500 consumers by Market Force Information finds that most plan to step up their spending this year vs. last year in areas like clothing, consumer electronics, toys and sporting goods.
Two-thirds (66 percent) of consumers expected to spend the same or more in family casual dining chains this year, lagged only slightly by quick-service restaurants (64 percent) -- the highest upswing of any industry studied.
Consumer electronics were hot in 2012 and the demand looks to carry over this year; 55 percent plan to spend more or the same in 2013 in major retail chains, 53 percent in local stores.
Fashion showed the biggest disparity between major chain and local-store spending: 59 percent of consumers said they expected to spend the same or more in major department stores for fashion, and about half (51 percent) plan to spend as much in local fashion shops.
“This is heartening news for retailers of all types,” says Janet Eden-Harris, CMO of Market Force. “It’s another sign that the economy and consumer outlook is brightening. From restaurants to various retail categories, consumers are cautiously optimistic. We’ve found in past studies that consumers tend to underestimate their spending, so we believe the horizon is brightening in 2013.”