Gift cards, electronics top holiday gift lists
As consumers head to retail stores and websites to stock up on holiday gifts for loved ones, they have several items on their lists they are looking to grab. Recent research has revealed that customers are buying a significant amount of gift cards and electronics this season.
Gift cards are a popular gift for the holidays, as it allows the recipients to pick out whatever items they like, eliminating the hassle gift givers face of choosing the right thing. The National Retail Federation (NRF) cited research from BIGinsight which found that 81 percent of consumers will purchase at least one gift card this season, putting an average of $156.86 on each product. This represents a total of $28.79 billion that will be spent on gift cards, the study revealed.
"Savvy shoppers know they can purchase a much appreciated gift card with ease either in store, online or through their mobile device, and give their loved ones the option to buy something they really want or need," stated NRF CEO Matthew Shay.
Time Magazine states that another group of hot items that will be bought and given out as gifts this holiday season include electronics, such as game consoles, tablets and ereaders.