U.S. consumers are predicted to spend $948 billion on holiday shopping in 2024, according to a survey by KPMG.
Forty-nine percent of consumers say they will increase their spending this year, the data showed, with households earning between $50,000 and $99,000 anticipated to raise their spending by 10%.
“Consumers continue to shop on-line and retailers must invest in their online platforms to provide a seamless and informative shopping experience,” said Duleep Rodrigo, KPMG U.S. consumer and retail sector leader. “This includes optimizing retailer and brand websites to deliver relevant information and personalized recommendations. Retailers who have the deepest data and analytics on preferences by income group can have the greatest success with targeted products and promotions.”
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Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
