2. Overview & Methodology
Objective Obtain an understanding of the sentiment among small to midsized business (SMB) retailers and consumers toward the economy and determine its impact on the holiday shopping season.
Approach Zoomerang distributed a survey to retail businesses with less than 1,000 employees, as well as consumers. Both parties were asked to provide insight into their confidence in the economy, its future and how it would impact the next few months of business and/or spending.
Results In total, 340 retail businesses and 2,192 consumers completed a survey about their confidence in the economy and how it will impact holiday spending. The results showed that both groups are apprehensive about the holiday season.
3. The lack of confidence among SMB retailers means that a high percentage will not increase their 2010 holiday budgets compared to 2009. 4. While consumers share a lack of confidence in the economy with SMB retailers, 62% of consumers plan to spend the same or more this holiday season compared to 2009. 5. More than half of consumers plan to complete their holiday shopping both online and in-person. 6. Of the consumers that bought luxury items in 2009, only 55% plan to do so again this year.
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