INDIAN JEWELLER

Rising gold prices pushes spending on gold to record high in Q2'06

Identifiable investment demand for gold surged 19% in tonnage

Post By : Diamond World News Service On 19 August 2006 12:00 AM
According to the National Retail Federation 2006 Easter Consumer Intentions and Actions Survey, conducted by BIGresearch, U.S. retailers can expect increased traffic in the stores this Easter, because of the holiday falling later in the year. The survey found that 77.6% of Americans plan to celebrate Easter, with total spending expected to reach $12.63 billion in 2006, a significant increase from the $9.6 billion spent in 2005.%%This year, the average shopper expects to spend $121.72 on Easter, up from $96.51 in 2005. Consumers between the ages of 35 and 44 are again expected to spend the most on Easter this year ($134.42). Spending among young adults 18-24 years old, who spent the least amount on Easter last year ($65.40), will nearly double this year, with the average young adult spending $121.48. In addition, shoppers in the Northeast will be spending the most on the holiday ($144.03), while shoppers in the Midwest will spend the least ($105.59).%%Discount stores will remain popular destinations this Easter, with more than one-half (59.6%) of consumers heading out to their favorite bargain retailers. Other shopping destinations include department stores (30%), specialty stores (22.%) and online (10.8%).

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