Consumers had made purchases worth $300 billion, roughly 10% of the total $3 trillion consumer retail market.
Occasion based purchases were the main reasons for gifting and as opposed to holiday season gifts, according to Unity Marketing president, Pam Danziger. He stated that the Wal-Mart figures would be an example for retailers to stress on developing a year long gift- purchasing environment rather than depend only on the holiday season sales.
Wal-Mart was selected by 42% gift shoppers in the U.S. as the most preferred destination for gifts, according to a report by Unity Marketing, a market-research firm. The sample base of 2,800 gift givers were monitored during 2006, (50%/50% male/female; average age-42.7 years; average income-$63,000). Basis the report, the average purchases for gifts was valued at $2,643 in 2006, an increase of 13.5% over figures of 2005.
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