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Accenture Survey Finds U.S. Consumers More Optimistic with Holiday Purchases
October 26, 2012
A recent survey from Accenture found that consumers are more enthusiastic about making holiday purchases this year. This is an encouraging find for retailers throughout the United States. The recession ended several years ago, but holiday sales have remained stagnant.
The results of the study showed the consumers were still hesitant to increase spending considerably. Nearly two thirds of consumers said that they intend to spend the same amount of money as they did in 2011.
The encouraging part of the study was consumers’ feelings towards the economy as a whole. Fewer customers also said that they have less discretionary money than they did in 2011. These findings could suggest that customers may be more likely to increase their spending as the holiday season approaches.
Chris Donnelly said that consumers are likely to increase spending this year, but indicated that retailers shouldn’t increase expectations considerably. Customers are still going to be cautious with their spending. They are likely to be looking for the best deals. This is likely to force companies into pricing wars, which will inevitably curtail profits.
The overall outlook for U.S. retailers looks stronger than the last three years. This is good news for companies following a discouraging third quarter for earnings.