Black Friday is nigh, and retailers are assuming their positions to capture the most holiday dollars possible. SG Cowen's annual holiday shopping survey results are in. The research firm polled 1,900 consumers nationwide about their holiday spending plans. Key finding s from the survey include:
- Respondents expect to spend on average $560 in total holiday gift purchases, down from $585 last year.
- Consumers plan to purchase holiday gifts for 10 people on average.
- The average price respondents plan to spend for each holiday gift is $72.
- On average, respondents have already completed 19 percent of their planned holiday purchases.
- The top holiday gift categories are books/music/videos, apparel and accessories and toys.
- Gift cards are increasing in popularity. Eighty six percent of respondents plan to give the same or more "cash equivalent" gifts this year.
- Forty three percent of respondents plan on shopping after Christmas.