Comments on: U.S. Consumers Curtail 2008 Holiday Spending

By: Are You Buying on Black Friday? « NewTeeVee

Are You Buying on Black Friday? « NewTeeVee — Wed, 26 Nov 2008 16:19:45 +0000

[...] Nielsen forecasts holiday sales of $98 billion, but its survey found that 35 percent of respondents plan to spend less this year [...]

By: Engauge Blog » Blog Archive » Shoppin’ for the Holidays … e-style.

Thu, 20 Nov 2008 20:17:46 +0000

[...] with a value-mindset, consumers are also shifting their gift giving. Neilsen reports that consumers are making practical decisions this year: gifts of necessity rather than indulgence. For [...]

By: E-Commerce… Recession is Knocking « Dax — lifestyling and web marketing

Thu, 20 Nov 2008 00:43:15 +0000

[...] Scary huh? Tough too because there only reporting up to and including October. We all know what’s continuing to happen day in and day out on Wall Street and if Wall Street is any sort of indicator (I know some people out there still don’t believe it is) E-Commerce sites are in for one painful holiday spending season. With the holidays around the corner historically the purchases go through the roof and then die down. Here’s hoping for a huge holiday season for those in the space. Unfortunately analyst’s don’t share my optimism. I’ll let Nielsen take over from here. [...]

By: 2008 Holiday Consumer Trend Roundup : Wholesalers Catalog Blog

2008 Holiday Consumer Trend Roundup : Wholesalers Catalog Blog — Tue, 18 Nov 2008 20:42:19 +0000

[...] 35% plan to spend less, 6% will spend more this year, 50% the same. Nielsen, October 2008 [...]

By: Sales Newz: Articles and Resources for Sales Managers » Predictions For Holiday Season Sales

Fri, 31 Oct 2008 12:53:50 +0000

[...] Nielson reports 35% plan to spend less, 6% more, and 50% the same this year [...]

By: Retail Shopping 2008 - The Year of Precision Deal-Hunting - Scott Clark

Retail Shopping 2008 - The Year of Precision Deal-Hunting - Scott Clark — Wed, 29 Oct 2008 01:29:52 +0000

[...] Nielson reports 35% plan to spend less, 6% more, and 50% the same this year [...]

By: Holiday 2008, the Economy and Ecommerce: A Roundup of Consumer Research | Get Elastic

Mon, 27 Oct 2008 11:03:00 +0000

[...] 35% plan to spend less, 6% will spend more this year, 50% the same. Nielsen, October 2008 [...]

By: An Agency Is Not A Sweatshop | Krotscheck.net

An Agency Is Not A Sweatshop | Krotscheck.net — Sat, 25 Oct 2008 19:08:40 +0000

[...] to bring the larger projects in-house, or because their budgets are getting cut as a result of reduced consumer spending. Everyone seems to be fairly certain that things are going to get worse before they get better, and [...]

By: James Russo and Todd Hale, Nielsen

James Russo and Todd Hale, Nielsen — Tue, 14 Oct 2008 18:22:59 +0000

John and Teltech54-

These are valid points you both make.

During the second quarter of this year, 85% of U.S consumers told Nielsen they believed a recession had already begun – perhaps as a result, 35% reported they planned to spend less on holiday shopping this year.

But since our holiday spending survey was conducted in early September, economic conditions have deteriorated significantly — with several major bank collapses or near-collapses worldwide. Given that, we expect that if we had conducted our survey again in early October, consumer response for “less holiday spending” would have been higher than what we reported from our early September survey results.

Incidentally, Nielsen will be releasing our “Global Consumer Confidence Survey” next week, which was fielded during the turbulent economic events of late September and early October. This data will give us the most current read on consumers’ perceptions of the current economic conditions — and we’ll be reporting those findings right here on NielsenWire.

For the time being, one thing is certain — those selling discretionary items will have to work much harder to capture spending this season.

-James Russo and Todd Hale, Nielsen

By: James Russo and Todd Hale, Nielsen

James Russo and Todd Hale, Nielsen — Tue, 14 Oct 2008 13:33:01 +0000

Kathi-

Great question.

Results from a June 2008 Nielsen survey on gas price impact shows the number one way consumers are dealing with high gas prices is by combining errands and trips (78% of U.S. households making this claim — up 10 percentage points from a year ago).

More than half of consumers are also eating out less (52% — up 14 points from a year ago) and staying home more often (51% — up 12 points from year ago).

Our 2008 holiday spending forecast shows 29% of those who entertain at-home during the holidays will be spending less. We de expect at-home entertaining will increase in terms of occasions, but we will likely see a decline in larger or extravagant at-home entertaining — which may be an issue for some product categories, but not for others.

Our advice to marketers: drill down into your category brand buyers and retailer shoppers to understand how an economic downturn will impact the consumers and shoppers that matter most.

-James Russo and Todd Hale, Nielsen