LOS ANGELES According to the latest holiday spending survey from PriceGrabber, holiday shoppers expect to spend slightly more this year. The survey found that 66% of online consumers said that they plan to spend $500 or more on holiday gifts. Last year, 59% of consumers spent $500 or more on gifts. This year, the average amount that holiday shoppers plan to spend on holiday gifts is $845.
According to survey data, the average 2010 holiday shopper will make 57% of his or her holiday purchases online, 40% in brick-and-mortar stores and 3% from a mobile phone.
This year, 80 % of consumers revealed they are planning to monitor price wars on their favorite products to ensure they are getting the best deal.
"Last year, we saw large-scale price wars between major retailers, which resulted in deeply discounted products. This year, we expect especially competitive price wars beginning early in the season," stated Laura Conrad, president of PriceGrabber. "Shoppers need to evaluate the benefit of monitoring price wars for the lowest price versus potentially missing out on the most popular products of the season."