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National  + Retail  | 

ICSC Predicts Robust Holiday Retail Spending

Consumers will hit stores again this holiday season, sustaining the ongoing “retail renaissance” and the convergence of digital and physical, the International Council of Shopping Centers (ICSC) found in its annual Holiday Shopping Intentions Survey. ICSC forecasts that shoppers will spend $807 billion, an increase of 4.5% over last year, with $685 billion being spent on gifts and other holiday items, and $122 billion on food and beverage.

“Our annual Holiday Shopping Intentions Survey findings demonstrate that consumers remain confident in the economy,” said Tom McGee, president and CEO of the ICSC. “Shoppers want a combination of convenience and experience, and the retailers with the best omnichannel strategy are poised for success this holiday season.”

Malls and shopping centers will, once again, be bustling with consumers this holiday season. According to ICSC, 84% of shoppers will visit a mall or shopping center throughout the holidays, but the retailers who embrace omnichannel will benefit the greatest. Of the 40% of consumers who will use click-and-collect, 82% expect to spend additional money at that store or tenant, further bolstering retail sales.

Consumer confidence has reached its highest level since October 2000, positioning shoppers to spend big this holiday season. According to ICSC, the average consumer plans to spend $706.40 this holiday season, with $522.00 allotted for gifts. Overall, 92% of U.S. consumers plan to purchase holiday gifts and other holiday items this year. More than half (54%) plan to spend more this year than last year, with more than one quarter (28%) pointing to a change in job status or income as a factor in their increased spend.

The product categories at the top of the holiday shopping list include: roughly one in four plan to buy big-ticket items like household appliances or jewelry; 40% are expected to buy electronics; 64% of consumers plan to buy gift cards; 52% plan to buy apparel and footwear; and 49% plan to buy toys and games.

“The holidays are a time of tradition and community that makes the mall and the local shopping centers the perfect place to be during the holidays,” said McGee. “Retailers are evolving their offerings and presentation to tap into seasonal nostalgia, while still delivering an innovative and convenient experience.”

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Inside The Story

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.

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