SANTA MONICA, Calif.--(BUSINESS WIRE)--Dec. 7, 2005-- Report Shows Hottest Holiday Picks from Pet Gifts to Stocking Stuffers
With less than 20 shopping days left before Christmas, consumers are looking to wrap-up holiday purchases, just in the St. Nick of time. The Macerich Company's (NYSE:MAC) latest Shopping in America Holiday 2005 survey, conducted by August Partners among more than 2,000 shoppers over the Thanksgiving weekend, shows that the average consumer still had 64.2 percent of their shopping left to complete in late November and December.
To Charge or Not to Charge
Overall, Shopping in America estimates that consumers will spend an average of $655 on holiday gifts and an additional $316 for parties, decorations and other seasonal purchases -- an increase of 6.3 percent from last year. The latest report shows cash or check is the preferred payment method for many shoppers (43.4 percent), followed by debit cards (26.1 percent) and credit cards (25.3 percent). (5.2 percent of consumers were unsure of their primary payment method.)
Shoppers with the highest household income of $75,000 or more (38 percent) are most likely to charge holiday purchases on a credit card, while those in the lowest $50,000 or less bracket (43 percent) are most likely to pay cash. By region, more Southern (46 percent) and Midwestern (45 percent) consumers will pay cash, while Northeasterners prefer to charge their holiday purchases (34 percent) and are 1.4 times more likely to use a credit card than the average holiday shopper.
Ranking as the top last-minute gift in the survey, consumers plan to purchase an average 2.8 gift cards for the holiday season. Gift cards are most popular with shoppers in $75,000+ household income level, who will purchase an average of 3.7 cards.
The Waiting Game
"About 30 percent of shoppers surveyed think they can get better deals closer to Christmas, which will likely be the case as deep retailer discounts are expected to continue throughout the holiday season," said Garry Butcher, vice president of marketing and consumer research for The Macerich Company. "But, convenience is still a primary consideration for many last-minute shoppers."
While 17 percent of shoppers say they never wait until the last minute for holiday shopping, among those who do, 23 percent are most influenced by the convenience factor when selecting gifts, followed closely by price (21 percent). Five percent are most influenced by sheer "panic."
Last-Minute Purchase Influencers ---------------------------------------------------------------------- Convenience 23.0% Price 20.5% Never Wait Until Last Minute 16.6% Reciprocation 9.3% Advertising 7.5% Recommendation 5.9% Panic 4.8% Other/Not Certain 12.4%
One-third of last-minute shoppers anticipate spending about the same as they otherwise would have, but almost one-quarter (22 percent) say they will spend more on last-minute gifts.
Top Last-Minute Gifts
Other than gift cards/certificates, selected as the most popular item (20 percent), CDs/DVDs/books (19 percent) and fragrance/perfume (15 percent) also ranked high among last-minute gift shoppers.
"Gift cards are popular this holiday season because they offer convenience for both the giver and the receiver," explained Butcher. "CDs, DVDs and books are also top choices, with the latest boxed sets especially hot this year."
Top 5 Last-Minute Gifts (a) ---------------------------------------------------------------------- Gift Cards/Gift Certificates 20.1% CDs/DVDs/Books 19.2% Fragrance/Perfume 14.6% Jewelry/Accessories 10.1% Gift/Food Baskets 8.8% (a) additional results available in the survey report
Top Pet Gifts
Of shoppers with pets, 38 percent will purchase a gift for their family critters. Consumers with a household income of $75,000+ are most likely (37 percent) to purchase pet gifts. Treats (32 percent) and toys (27 percent) are the overwhelming favorite pet gifts this season.
Top 5 Pet Gifts (a) ---------------------------------------------------------------------- Treats 31.6% Toys 27.3% Grooming Supplies 8.3% Leash/Collar 7.8% Bed 7.3% (a) additional results available in the survey report
Stocking Stuffers
Santa take note: Shoppers most hope to find gift cards/certificates (21 percent), food (16 percent) and cosmetics/grooming products (16 percent) in their stockings this year.
Top 5 Stocking Stuffers (a) ---------------------------------------------------------------------- Gift Cards/Certificates 20.9% Food (Candy, Fruits, Nuts) 15.8% Cosmetics/Grooming Products 15.8% Jewelry 14.2% Books/CDs/DVDs 13.1% (a) additional results available in the survey report
Favorite Holiday Activities
Attending church/religious services (selected by 37 percent of shoppers), going to holiday, performances (34 percent) and the traditional family meal (22 percent) are among consumers' most popular holiday pastimes. Sporting events (18 percent) and shopping (17 percent) also ranked in the top five.
Oh Christmas Tree
More than three-quarters of American shoppers plan to display a Christmas tree this holiday season. More than half (53 percent) will use an artificial tree, while 42 percent will go for a real tree. (5 percent are undecided.)
Shopping in America is a national shopper intercept survey that studies consumer-shopping trends. The latest Holiday 2005 survey was conducted among more than 2,300 shoppers in 12 regional shopping centers geographically spread throughout the United States. Respondents ranged in age from 12 to 75+ years. Not all results are stated in this news release and some are rounded to the nearest whole number. Data totals are subject to a +/- 2.0 percent margin of error. Additional Shopping in America results will be released in mid-December. To view other Shopping in America findings please visit www.shoppinginamerica.biz.
The Macerich Company is a fully integrated self-managed and self- administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. The Company is the sole general partner and owns an 82% ownership interest in The Macerich Partnership, L.P. Macerich owns approximately 79 million square feet of gross leasable area consisting primarily of interests in 75 regional malls. Additional information about The Macerich Company can be obtained from the Company's web site at www.macerich.com.
CONTACT: Lovell Public Relations Tresa Hardt, 972-788-4511 or Colleen Matthews, 972-788-4511 thardt@lovellpr.com SOURCE: The Macerich Company