The ugly sweater is soaring
According to a recent survey by data analysis company GlobalData, nearly half of the respondents spent more on clothing in the holiday season this year, and the ugly Christmas sweater will become a hot product in the holiday season.
Recently, the Google search volume of “ugly Christmas sweater” has started to rise.
On Amazon, a ugly Christmas sweater has become the second in the men’s novelty sweater collection.
Holiday clothing will be the winner of this year
Neil Saunders, general manager of GlobalData Retails, said in a report: “It is worth noting that holiday clothing will be the winner of this year’s peak season, and 47.1% of shoppers said that they will spend more during this year’s festival than last year. More money to buy clothes.”
Overall, strong economic conditions have increased consumer confidence, with 59.3% of respondents saying they have better personal finances this year compared to the same period last year, with 51.8% saying they will spend more than 2017 many.
PricewaterhouseCoopers’ holiday spending data shows that consumers will spend more than 5% during this holiday season, and 84% of the estimated spending for this holiday season is about the same as last year, or even more, with an average of $1,250, including Gifts, travel and entertainment.
PricewaterhouseCoopers said that the average travel cost of high-income shoppers would be three times that of all consumers. High-income millennials with annual incomes of more than $70,000 will spend an average of $2,021 during the holiday season, while millennials with annual household incomes below $70,000 are expected to spend an average of $839.
In addition, the vast majority (80%) of high-income millennials are Amazon’s Prime members, who may use membership to purchase matching Christmas sweaters for their dogs and cats. PwC data shows that high-income millennials plan to spend 8% of their holiday budget ($183) on pet gifts.
American consumers will become more rational
Joseph Brusuelas, chief economist at RSM, an accounting and consulting firm, said: “We expect that the government has recently imposed 10% of the 5,745 items worth $20 billion imported from China. Taxes, American consumers will become very rational.”
“In addition, given that the current government may raise the tax rate to 25% by January next year and may impose a 25% tariff on unnamed goods valued at $267 billion, it may drive US consumers in 2018. Consumption and economic activity in the last quarter of the year,” Brusulas said.