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ICSC Forecasts Strong Consumer Spending Holiday Season 2017

Retail sales this holiday season are forecast to grow 3.8% year-over-year, according to International Council of Shopping Centers’ (ICSC) “Holiday Shopping Intentions Survey.” Consumers are expected to spend on average $728.40 on gifts and other holiday related items.

While much attention is rightly paid to growing online shopping trends, ICSC found that consumers’ buying preferences cover a wide array of channels, from in the store, online and click and collect. Still, 96% of shoppers say they plan to make a purchase from a retailer who has both a physical, as well as an online presence, while 91% of shoppers plan to buy at physical locations.

“Our annual Holiday Shopping Intentions findings demonstrate that consumers are very optimistic this holiday season and that physical retail remains a cornerstone of the holiday season,” said ICSC’s Tom McGee. “The more agile retailers are in meeting consumers’ demands for the seamless convergence of physical and digital shopping, the more success they will see.”

One demographic group, Millennials, is expected to play a central role in shaping the 2017 holiday season, as 92% of them plan to spend money in a physical store. And more than any other age group, Millennials plan to take advantage of discounts on Black Friday (57%).

“Millennials are by far the biggest disruptor right now. They not only want experience, but they want convenience as well which we see in their intent to utilize both online and physical,” stated McGee. “The theory that they are a digital-only generation is simply not true; they want digital to be a part of their transaction rather than the entire transaction.”

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Read more at ICSCConnect With ICSC’s McGee

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.