In a study conducted by the National Retail Federation and BIGresearch entitled The NRF 2002 Holiday Consumer Intentions and Actions Survey , consumers plan to spend an average of $649, an increase of 2.6 percent from 2001 projected spending.
“We expect pent-up demand for apparel and electronics to play a strong role during the 2002 Holiday season.”
I would agree with this cautiously. Yes, there has been pent up demand caused by a slow economy and just the plain old need for things to be replaced. However, I do believe that given the economy, shoppers will be cautious and frugal.
