A new survey out today provides both a lump of coal and a Christmas gift for holiday shoppers: Hurry and grab everything on your shopping list because inventories are lean, but don't feel alone or upset about spending the money because your fellow shoppers are looking to splurge.
"Shoppers this year want to get the right gift, and that's more important than getting something on discount," said Ken Burke, founder and executive chairman of MarketLive, a Petaluma, Calif.-based e-commerce and services firm that did the survey.
There's a slight problem with the scenario: Retailers had no room in their budgets to pay for piles of inventory, so supplies will be tight, Burke said.
"I talked with retailers as early as March who said, 'We don't have the cash to buy inventory,' " he said.
That means shoppers will have to jump quickly to get that perfect gift, before it's gone for good.
The survey polled more than 1,000 people about their shopping habits and plans for the holiday season.
"People are feeling more confident and are showing pent-up demand," Burke said. "They didn't spend throughout the year, so they feel more comfortable spending for the holiday. Also, the stock market is doing better, so shoppers' 401(k) plans are coming back."
SURVEY RESULTS
Shoppers plan to spend about as much as they did last year, the survey revealed:
• 43 percent will spend $300 to $800 this holiday season, the same as last year.
• Another 33 percent plan to fork over $800 to $2,500, down 3 percentage points from a year ago.
Jaye Sullivan, senior e-commerce strategist for MarketLive, said retailers "are starting to see an uptick in sales," reflecting increasing consumer confidence.
Other findings:
• Online shopping continues to grow, with 55 percent planning to do their holiday shopping online this year, up from 49 percent last year. One-quarter, or 26 percent, plan to buy more gifts online than they've bought before, compared with 21 percent last year. Free shipping is the primary enticement to buy books, clothes, music, toys, gift certificates and consumer electronics online.
• One in three shoppers plans to use a cell phone to check prices, redeem promotions and find