The Economy

’Tis the Season

How much will consumers spend on gift-giving this year?
CFO StaffNovember 25, 2015

15Nov_Quiz_p48Once again the holiday shopping season is upon us, promising much-needed cheer to businesses and the economy. How much will Americans spend, what will they buy, and how will they buy it? To find out the answers to these questions and more, take our quiz, which draws on the National Retail Federation’s annual Holiday Consumer Spending Survey.

1. Shoppers will spend a survey high this year on gifts, food items, and more to celebrate Christmas, Hanukkah, and/or Kwanzaa. How much will they spend on average?
A. $710.39
B. $746.16
C. $780.75
D. $805.65

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2. How many holiday shoppers began their holiday shopping before Halloween?
A. 35%
B. 40%
C. 45%
D. 50%

3. Which factors are the most important to shoppers in choosing a particular retailer to shop at? (Rank in descending order.)
A. Selection of merchandise
B. Sales or price discounts
C. Convenient location
D. Quality of merchandise
E. Free shipping/shipping promotions

4. On average, how much will holiday shoppers spend on gifts for family members (also a survey high)?
A. $420.65
B. $462.95
C. $483.18
D. $501.25

5. Which items are the most requested gifts? (Rank in descending order.)
A. Books, CDs, DVDs, and video games
B. Clothing or clothing accessories
C. Gift cards
D. Consumer electronics or computer-related accessories

6. How many holiday shoppers will buy non-gift items for themselves and/or family members?
A. 45%
B. 51%
C. 56%
D. 62%

7. How much holiday shopping (browsing and buying) will be done online?
A. 39%
B. 46%
C. 51%
D. 55%

8. How many smartphone owners will use their phones to buy holiday merchandise?
A. 11%
B. 15%
C. 21%
D. 25%

Source: NRF 2015 Holiday Consumer Spending Survey

Answers: 1–D; 2–B; 3–B, D, A, E, C; 4–B; 5–C, B, A, D; 6–C; 7–B; 8–C