ICSC Survey Reveals Discount-Hunting Trends for the Season
- ICSC survey shows consumers are seeking discounts and deals this holiday season
- 68% of respondents will shop in-store due to exclusive deals and rewards programs
- 92% of respondents plan to shop at brick-and-mortar stores for holiday items
- Holiday retail sales projected to grow between 3% and 3.5% this year
- NRF predicts November-December sales to rise by 2.5% to 3.5% to reach $979.5-$989 billion
- Bain & Company reports a 5% increase in U.S. retail sales from Black Friday to Cyber Monday, reaching $75 billion
In response to inflation, consumers are more likely to search for deals and discounts this holiday season, according to an ICSC survey. As a result, 65% of respondents will be influenced by available rewards and membership programs when making their shopping choices. ICSC’s President and CEO Tom McGee stated that the consumer has become ‘reserved yet resilient.’ Despite economic uncertainty, retail sales have remained steady throughout the year, leading to a strong holiday shopping season projection. The National Retail Federation anticipates November-December sales to rise by 2.5% to 3.5%, reaching $979.5-$989 billion. Bain & Company reports a 5% increase in U.S. retail sales from Black Friday to Cyber Monday, totaling $75 billion.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information based on surveys and research conducted by ICSC, Experian, and Bain & Company. It presents factual data about consumer behavior and retail sales projections without any personal perspective or sensationalism.
Noise Level: 3
Noise Justification: The article provides relevant information about consumer behavior and spending during the holiday season, with data points such as survey results and projections from various sources. It also compares these findings to previous years and other reports in the industry. However, it could benefit from more analysis or context on how inflation has specifically affected different sectors of retail and what this means for businesses and consumers long-term.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses consumer spending and its impact on retail sales during the holiday season. It mentions inflation, discounts, promotions, and projections for retail sales growth. While these topics are related to finance, they do not directly impact specific financial markets or companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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