By: Lillian Tait-Giles, BloombergSource: BloombergNews.com – In the final weeks of December, it’s hard to look at this year’s Christmas season and not be overwhelmed by the sheer amount of stuff on sale.
From $150 sweatbands to $5,000 snowglobe, you’re likely to find something new and cool at every sale.
Some items might have a price tag on them.
That’s what happens when Christmas shoppers are looking for a bargain, according to a new survey by Retail Industry Association of America.
The number of Christmas-themed items on sale in December rose by 10% from the previous year, the report found, with a record $1.4 billion worth of merchandise being offered on Dec. 24, compared with $1 billion in the same period of last year.
That includes a record 10.1 million toys, games, and sporting goods, a 22% jump over last year, according the report, released Thursday.
And while Christmas sales dropped 5% from last year’s pace, retail sales rose by 1.9% year-over-year.
The average Christmas gift price rose by $2.80, while the average Christmas purchase cost $7.49.
Toys, games and other household goods accounted for nearly 70% of all sales in December.
And some of those items were priced at $1,000 or more, the survey found.
But how many are you likely to actually buy?
That’s where a new research firm, Nielsen Consumer Insight, comes in.
It’s an interesting idea.
It’s a way for retailers to measure consumers’ spending patterns, as well as gauge consumer sentiment, the researchers said in a statement.
That information could help retailers improve their Christmas sales.
In the past, the retailers have typically used that information to calculate their Christmas revenue.
But Nielsen Consumer Insights, which was set up to help retailers make better Christmas shopping decisions, has been experimenting with data collection on a new platform that allows consumers to pay attention to the sales.
The platform, called The New Nielsen, allows consumers the ability to track the spending of all items sold on a given day.
“With this new platform, we can measure the consumer behavior, which will provide insights into how people are spending their Christmas,” Nielsen Consumer Insider CEO Steve J. Shultz said in the statement.
“This data will help us make smarter and more informed Christmas shopping choices for all of our customers.”
The platform allows shoppers to pay $2 for an item, and they’ll be able to track their spending throughout the day.
It also gives them access to a database of holiday items.
The new survey found that 70% bought more than one item on Christmas, compared to 69% last year and 67% in 2014.
It doesn’t include the value of gifts, but it does include how much each item costs, Shultz added.
A survey conducted in January found that the average American spends $8.17 on Christmas.
That same survey found Christmas sales were down 2% from a year ago.