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New Holiday-Season Dynamics

CHICAGO-The timing of the holiday season, and how to react to it, is changing for many retailers, though it remains traditional for others, ICSC speakers say. A changing consumer, advances in technology and the increasing use of gift cards have all impacted how shoppers spend their holiday-gift dollars.

By Ian Ritter | Updated on September 26, 2006

CHICAGO-While the holiday season is still an important time of year for retailers, its nature is constantly changing. A changing consumer, advances in technology and the increasing use of gift cards have all impacted how shoppers spend their holiday-gift dollars, said speakers here at the International Council of Shopping Centers’ Fall Conference.

“What got us here is not going to get us to the next level,” says John Torella, senior partner at Toronto-based consulting firm J.C. Williams Co. “We’re going to have to be better at everything we do. [Consumers] have so much choice and so little loyalty.” International retailers pushing into North America, increasing consumer diversity and technology are all influencing consumer shopping patterns, he says.

Gift cards are increasingly becoming a standard present during the holidays. About $80 billion of them were bought last year, with a projected $151 billion to sell during next year’s holiday season, says Kristen Dembowiak, director of American Express Stored Value Group’s prepaid partnerships. “The spike that we see the day before Christmas is insane,” she says.

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