By Matthew Holloway |
The National Retail Federation (NRF) and Prosper Insights & Analytics have released a new survey indicating the hottest selling toys and gifts for the holiday season.
In a press release, NRF Vice President of Industry and Consumer Insights Katherine Cullen introduced the survey saying, “The holiday season is in full swing and while many consumers have made progress on their shopping lists, most shoppers will make the majority of their purchases over the coming weeks. Whether shoppers are looking to spread out their purchases or seeking the best deals, retailers are ready to help consumers with all their shopping needs this holiday.”
According to the survey, the NRF forecasts that 2024 holiday spending will increase by approximately 2.5-3.5% and total between $979.5 billion and $989 billion.
In the category of toys, the survey found real-world toys like Legos, Hot Wheels, and other toy cars reigning supreme over video games and video game consoles for boys. For girls, it found Barbie and other dolls standing tall with Legos, followed by cosmetics and beauty products.
For adults, the survey found that the top five gift-giving categories will be clothing (54%), gift cards (44%), toys (36%), books, video games, movies, series and other media (31%), as well as food and candy (30%).
For gift cards, the most popular are those for restaurants at 30%, department stores at 25%, bank-issued gift cards at 25%, and coffee shop gift cards at 22%.
Prosper Insights & Analytics Executive Vice President of Strategy Phil Rist explained that most shoppers will find their gift inspirations online. He said, “Younger shoppers continue to embrace social media for gift ideas, with those between the ages of 18-24 more likely to find inspiration through platforms such as TikTok (28%) and Instagram (27%). These shoppers are also more likely than any other age group to purchase jewelry, with 30% planning to gift these items.”
Matthew Holloway is a reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
