Retailers Ready For Post-Election Holiday Shopping Rush

This year’s presidential election may have a major influence over the holiday shopping season.

According to the National Retail Federation‘s annual consumer spending survey, shoppers may have a more conservative holiday spending budget as a result of the upcoming election.

Consumers expect to spend an average of $935.58 during the holiday shopping season on a growing list of items, including gifts for others, self-spending, food, flowers, decorations and greeting cards for Christmas, Hanukkah and Kwanzaa.

Last year, the record total spending, on average, was $952.58.

“Everywhere you turn — whether you’re picking up a newspaper or watching television — political advertisements are taking up ad space that retailers typically use to get holiday shopping on the minds of consumers across the country,” NRF President and CEO Matthew Shay said in a statement. “Once the election has passed, we anticipate consumers will pull themselves out of the election doldrums and into the holiday spirit.”

The study revealed that 58 percent of consumers plan to buy for themselves, spending an average of $139.61, an increase of 4 percent from last year’s $133.74 and marking the second-highest level of personal spending in the survey’s 13-year history.

“Many shoppers are taking the approach of ‘one for you, two for me’ this holiday season,” Shay added. “Retailers are preparing by offering a wide array of merchandise and promotions — items shoppers want to give as great gifts at prices so good they want to buy for themselves, too.”

New research from Customer Growth Partners’ 16th Annual Holiday Forecast found that retail sales for the November-December holiday period are expected to reach $632 billion, which is a record-breaking number, reflecting rising incomes and helpful deflation in food prices, clothing and electronics. The study used data points for 50 major retailers collected on a weekly basis and have been refined since 2001.