Wednesday, October 18, 2006

More Young Shoppers Head to Department Stores

LOS ANGELES - October 17 - The National Retail Federation's (NRF) 2006 holiday season survey has found that more college-aged shoppers will be hitting department stores this year to do their shopping.

The Holiday Consumer Intentions and Actions Survey found that 79% of shoppers ages 18 to 24 planned to shop at department stores during the holidays, up from nearly 73% last year.

While nearly three-quarters of American consumers plan to shop at discount stores this holiday, nearly 62% are headed to department stores, the study found, with 48% shopping at specialty stores and 47% looking to the Web for their gifts.

The average consumer plans to spend $791.10 on presents this holiday, up from $738.11 in 2005, according to the study, an increase boosted by lower gas prices and rising consumer confidence.

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