According to the National Retailer’s Association, consumers will spend nearly four percent more this year on holiday gifts than they did in 2015. In fact, according to NRF president and CEO Matthew Shay, “All of the fundamentals are in a good place, giving strength to consumers and leading us to believe that this will be a very positive holiday season.
The NRF holiday sales forecast is based on an economic model which uses several indicators such as consumer credit, disposable personal income and previous monthly retail sales releases. Their data shows an average increase in holiday sales for the past 10 years of 2.5 percent.
More projections about Holiday Spending in 2016:
- Non-store sales should increase between 7 and 10 percent — to as much as $117 billion.
- Projections released by PWC on October 4, 2016 put holiday spending at the highest level since the Great Recession.
- Analysts with financial firm Apprisen say that the average U.S. consumer spent about $830 on Christmas gifts last year.
- The International Council of Shopping Centers also gave a rosy projection, forecasting a 3.3% spending increase at physical stores, compared with a 2.2% gain in sales last year.
- Most experts agree that online shopping will increase at a much quicker rate than sales in storefronts, as consumer confidence in e-commerce grows.
As you know when you own or manage a business, one of the first steps to take in regard to holiday shopping is to set a budget; doing this will help you stay on target, so you won’t overspend. Decide how much you can afford to invest for everyone on your business gift list: clients, prospects, service providers, and employees. Of course, you can always adjust budgets later. But setting spending caps will help you determine the types of gifts you buy after you have set budgets for each category.
No matter how much you plan to spend this holiday season, your promotional consultant can show you how to stay within that budget and give a gift that the recipient will enjoy and use! They will show you an affordable, thoughtful gift to remember customers, clients, prospects and friends, while simultaneously reinforcing your brand. On Target Promotions in Riverside, California offers thousands of gift ideas to suit virtually any budget. Their promotional consultants are trained to choose “just the right gift” for your company’s needs.
Affordable Holiday Gifts for 2016
- Stuffed animals
- Hot Cocoa Set
- Business Totes/Bags
- Photo Frames
- Wine/Beer Sets
A few more great affordable ideas:
- Pen sets
- Tech Gifts
- Copper Moscow Mule Mugs
- Holiday Ornaments
- Glove & Scarf sets
Click here to see more Affordable Gift Ideas.
OnTarget Promotions is a national promotional products agency based in Riverside, California. We help clients use promotional products along with other media to design and secure quality promotional programs that meet their goals and exceed their expectations. Since we believe nothing is a greater reflection of success than a repeat customer, everything we do is designed with our customer in mind. Your focus is our goal. Call (951) 682-8427 or email us to start your project today.