ACWI Advance | Volume 3, Issue 20 | October 15, 2015
The National Retail Federation’s Holiday Consumer Spending Survey predicts families will spend an average of $805.65 on food items, decorations, gifts and more over the holiday season, the highest amount in the survey’s 14-year history and in line with last year’s $802.45.
Spending on gifts for family members will be $462.95, up from $458.75 last year and a survey high. NRF also forecast modest holiday sales growth for 2015 (AA, 10-15-15, P. 5).
Of those who plan to shop online, 46.5% say they will take advantage of retailers’ buy online, pick up in store or ship-to-store options. Free shipping seems to be the most anticipated promotion however: 93.1% of online shoppers say they will use a free shipping offer when shopping for holiday merchandise.
Consumer Tech To Boost Holiday Sales
Consumer spending on technology is projected to contribute mightily to holiday retail sales this year.
Research from the Consumer Electronics Association shows that 65% of all Americans, roughly 160 million people, are planning to buy tech gifts.
Noting that overall holiday spending is expected to rise 3.4% to a total of $788.5 billion, CEA said it expects consumer tech spending to reach nearly $34.2 billion, a growth of 2.3%.
“CEA’s 2015 holiday forecast suggests the holiday shopping season that lies before us will be the biggest on record,” says Shawn DuBravac, chief economist and senior director of research.
EEOC Alleges Bias Against U.S.-Born
In an unusual case, the Equal Employment Opportunity Commission has brought suit against an employer for discriminating against U.S.-born workers by favoring immigrants.
EEOC alleges that J&R Baker Farms, a farm operation in Georgia, engaged in unlawful discrimination by subjecting its American workers – both white and African-American – to different terms and conditions of employment.
The director of EEOC’s Atlanta District Office said, “This is not the first time the EEOC has seen this kind of discrimination against American workers due to negative stereotypes of their work ethic and likelihood to complain about injustice.”