VirtualMall: Holidays 2009

Holiday Shopping Guide for 2009

Recession Creates New Holiday Shopping Trends

Despite the economic condition this year, some of the best bargains will be found this winter. Retailers have an excess of inventory left over from slow summer and fall seasons. Many placed their holiday orders before the economic crash and over-ordered.

Combine huge inventories will low consumer demand, and this the formula for deep discounting. Look for huge markdowns in large ticket items like TVs, HDTVs, electronics and clothes.

PriceGrabber.com(R) data reveals: 70 percent are researching and comparison shopping online, 53 percent of consumers are taking coworkers off gift lists, and 36 percent anticipate holiday spending between $100 and $499

LOPriceGrabber.com®, a part of Experian, explores the impact of the economy on holiday spending in its latest Holiday Forecast Consumer Behavior Report. Survey data reveals that the state of the economy is shaping new trends in holiday shopping. More than ever, comparison shopping is on the forefront of consumers' minds, with 70 percent of consumers doing more research and comparison shopping online, compared with 38 percent last year.

Other findings from the PriceGrabber.com survey of 2,018 online consumers conducted from Sept. 24, 2009 to Oct. 12, 2009, reveal in the 2009 holiday shopping report.

Early promotions, sluggish sales to take a toll on profits

In holidays past, mall retailers sought to outdo one another by creating elegant window displays designed to convey the warmth and magic of the season. This year, however, sluggish traffic and lackluster sales will force retailers to woo shoppers with all the subtlety of a carnival barker hawking tickets to a sideshow, says retailing veteran Stevan Buxbaum, executive vice president of Agoura Hills, Calif.-based Buxbaum Group, the consulting and turnaround investment firm.

"You could call this the 'Battle of the Signs,'" Buxbaum says. "Instead of the windows being done up like something out of 'Miracle on 34th Street,' they'll be done up like a liquidation sale. The signage will be intense and extreme, with messages like 'Buy 1 Get 1 Free' and 'Everything 25% Off!' " Continue reading about holiday promotions.

New Survey: Americans Plan to Spend Less on Holidays but Remain Generous Despite Recession

NEW WORLD VISION STUDY SAYS WE PLAN TO GIVE MORE TO CHARITY WHEN THE ECONOMY IMPROVES

AMERICANS SAY IT'S ESPECIALLY IMPORTANT TO ADDRESS THE NEEDS OF CHILDREN DURING THE HOLIDAYS

The faltering U.S. economy will again force many U.S. adults to cut back on holiday gift spending this year but according to a new study, three out of four Americans (76%) would prefer to receive a meaningful gift that would help someone else instead of a traditional holiday gift like clothing or electronics. And according to the new study commissioned by World Vision, an international relief and development organization, an overwhelming majority (95%), say the nation's focus over the holidays ought to be on helping children. Most Americans also say once the economy improves, they'll increase their donations to charities. According to the poll, conducted by Harris Interactive, almost three out of four (74%) say they'll increase their charitable giving once the economy improves.

2009 FINDINGS

More than nine out of ten (95 percent) agree that it is especially important to help children during the holiday season.

More than three out of four U.S. adults (76 percent) would prefer to receive a meaningful gift that would help someone else instead of a traditional holiday gift like clothing or electronics.

As a result of the current economic climate, almost six out of ten adults (57 percent) will spend less money on holiday presents this year. In 2008, seven out of ten (71 percent) said they would spend less on holiday gifts.

Almost three out of four (74 percent) plan to increase their charitable giving once the economy improves.

"The declines we see from 2008 reflect the realities of the challenging non-profit climate, with less charitable giving at a time when the need has increased for so many," says Justin Greeves, Senior Vice President, Business Leader, Public Affairs & Policy Research at Harris Interactive. "However, even in these difficult times, an overwhelming majority of Americans still want to help others in need and would rather receive a gift that would help another instead of receiving a traditional gift for themselves. That finding reveals our charitable culture at work. The declines we see in this survey mirror the climate overall. In June 2009, Giving USA reported a 5.7% drop in giving overall in 2008, the largest drop in five decades," says Greeves. "I'm surprised it's not a lot lower than that."

This is the second year World Vision has commissioned Harris Interactive to report on how charitable giving would be affected by the recession. Last year, World Vision also reported that U.S. adults planned to cut back on holiday gift spending. That study also concluded that many U.S. adults (49%) would be more likely to give a "charitable gift" as a holiday present. Both studies are available to media.

"This research shows that people are still very anxious about the economy but clearly concerned about children," says Devin Hermanson, World Vision's Gift Catalog Senior Director. "They want to help, but feel they should wait until the economy turns around. The Gift Catalog is a great solution since it allows them to have a life-changing impact for very little money.

And this year, we'll be able to truly show how powerful that impact can be through our Spirit of Christmas Tour. We'll be traveling literally around the world to videotape children and their families who have benefited from gifts from the Gift Catalog such as goats, water, and malaria prevention." The tour leaves New York November 22nd, returning in five weeks.

"A gift given from the Gift Catalog significantly improves the life of a child or family in need by providing tools and opportunities to overcome extreme poverty while at the same time honoring your friends and loved ones," says Hermanson. For each World Vision gift, the giver can make the purchase in the name of a friend, family member, or business associate. World Vision then sends special cards to those individuals, describing the gifts and their impact. In the following year, the gift itself or intervention reaches the child or family in need.

Last year alone, World Vision's Gift Catalog raised $25 million and provided assistance to more than 500,000 people around the world.

World Vision launched the Gift Catalog in 1996. And while a goat ($75) may be World Vision's number one seller, there are more than 100 gifts (many under $35) to choose from.

To order: www.worldvisiongifts.org. Or call toll-free (888) 511-6511. All items are tax-deductible.

About World Vision
World Vision is a Christian relief and development organization dedicated to helping children and their communities worldwide reach their full potential by tackling the causes of poverty. We serve the world's poor, regardless of a person's religion, race, ethnicity or gender. For more information, visit www.worldvision.org.

Source: World Vision U.S.
SEATTLE, Nov. 16, 2009 /PRNewswire-USNewswire/ --

Economic Crisis Forcing Shoppers to Use the Internet

With the economy faltering, shoppers will turn to new websites even more, according to Internet shopping experts.
According to the Wall Street Journal last week, "Analysts are predicting sharper price cuts on flat-panel televisions and Blu-ray players in the coming weeks." Such consumer product price volatility can cause buyers to hesitate.
Because prices are always changing, savvy consumers need more than just a snapshot of prices at any given moment, as delivered by shopping portals and retail websites. Continue reading about internet holiday shopping.

Online Consumers Plan to Spend Less in Stores, But Slightly More Online This Holiday Season

Online consumers intend to spend less in stores this holiday season than last year, The Conference Board and TNS report, but slightly more online. Consumers will be expecting free shipping and deals not available in stores when they shop online.

The Consumer Internet Barometer, a quarterly report produced by The Conference Board, the global business research and membership organization, and TNS, a global market insight and information group, surveys 10,000 households across the country and tracks who's doing what on the Internet.

"Given the current economic environment, it is no surprise that consumers are reigning in their spending and seeking bargains," says Lynn Franco, Director of The Conference Board Consumer Research Center. "Free shipping, exclusive online deals, coupons and discounts are among the incentives consumers will be expecting this season." Bargain hunting will remain the driving force behind online sales, the report notes. Continue reading about holiday shopping predictions.