IBISWorld has also suggested that consumer confidence during six weeks in between Nov 1 and Dec 25 is not likely to be affected by economic malaises from unemployment to debt burdens.
For jewelry that remains a preferable gift item in Christmas celebration, the Los Angeles-based researcher has foreseen marvelous sale growth of 7.1 per cent to $4.7 billion compared with $4.4 billion earlier.
The holidays are an especially appropriate time for consumers to purchase splurge-worthy items like jewelry for their loved ones,€ says a senior analyst Nikoleta Panteva at IBISWorld.
The luxury market has led the economy in recovery, showing signs of growth throughout 2015.
Christmas related gifts including gift cards, clothing, electronics, toys, etc. are expected to make consumers spend a whopping $47 billion in the holiday season, a straight 3.4 per cent rise over last year.
Overall, it was revealed, holiday retail expenditures will scale up 3.3 per cent to $64 billion in lucky last two months of 2011 from $62 billion in the corresponding period the preceding year.
If the statistics are put to the litmus test, one will not help but bear them out. Firstly, National Retail Federation (NRF) has noted November-December account for near a quarter of annual retail.
Special days such Thanksgiving, Black Friday, and Cyber Monday have also witnessed record breaking sales.
Notably, Black Friday has marked a record one-day retailing so far this year. The heaviest $816 million was spent online in the post-Thanksgiving shopping day, indicating a 26 per cent jump over a year ago, as per the digital business monitor ComScore.
And, this figure pertains to internet shopping, if sales of brick and mortar stores are also taken into account, the collective statics would become astonishingly high.
Consumer spending on gift items increase in the season as people love to express sentiments to their near and dear ones by giving them gifts.
Inflationary pressures that cast shadows over buyers could not deter them at all in view of above stats. Online discount houses continue to prop up consumer buying power through daily deals.
In this regard, daily deal websites are the inimitable platforms offering buyers amazing off-price specials normally called deal of the day.
With more than 600 group buying websites, daily deal industry is still to make inroads in the mass market. However, subscribers base of daily deal sites are expanding with each passing day. The industry is acclaimed as one of the fastest growing industries in the world.
Events such as one that is going on are the best time to convince consumers how effective best deals prove in lessening price burdens of buyers, believe independent analysts.
Such sites come up with deals of various products; especially occasion-related hot deals abound in these portals.
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