BBWI - Holiday consumers plan to spend big at Amazon and TJ Maxx curb purchases at Best Buy - Citi

Citi Research projects that consumers will shop earlier and spend more money for the holidays when compared to last year. In an annual survey of 2,500+ U.S. consumers, 23% of participants said they planned to spend "somewhat more" or "significantly more" than last year during the holiday season compared to 17% in 2020. The dollar amount that consumers expect to spend for the holidays increased 5% to to $537 from $510 in 2020. Survey results also show that 4.0% more consumers said they plan to shop earlier this year than last year. "This is a good sign for retailers, who would prefer seeing early shopping rather than shoppers come in for last minute deals in late December," write Citi analysts led by Paul Lejuez and Steven Zaccone. Along with getting holiday shopping done ahead of schedule, consumers are looking to avoid potential shipping delays by shopping in-store rather than online.

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Holiday consumers plan to spend big at Amazon and TJ Maxx, curb purchases at Best Buy - Citi