U.S. consumers optimistic ahead of holidays-survey
* Americans more optimistic ahead of holidays
* Sees consumers spending more on nongift items
* Discount stores continue to be top shopping destination
* Survey shows more pain for department stores
NEW YORK, Oct 28 (Reuters) - Bruised U.S. retailers might find some solace in Deloitte's most recent survey that showed American consumers were more optimistic about the economy as the holiday shopping season kicks off.
The annual holiday survey released on Wednesday showed fears about the recession slowly subsiding, with about 54 percent of the participants expecting the economy to improve in 2010. This compared with just 28 percent responding favorably last year.
The optimism is also trickling into Americans' shopping plans for the holiday.
More than half of consumers -- about 51 percent of those surveyed -- hope to spend more or the same on the holidays, an improvement from last-year's 41 percent, Deloitte said.
Also, Deloitte survey showed consumers' total anticipated holiday spending at $1,145, a 16 percent increase over last year.
However, consumers will spend less on gifts and more on nongift items this time around.
"What's driving that is clearly a focus on being with family and friends ... There's also this need to replenish. Consumers have been holding back for the last 12 months," Stacy Janiak, U.S. retail leader for Deloitte LLP told Reuters.
Consumers plan to spend about $452 on gifts this year, down from $532 in 2008 and $569 in 2007, the survey said.
The nongift categories include socializing away from home, entertaining, nongift clothing and home/holiday furnishings, Deloitte said.
The American consumer will however continue to remain focused on the price-value equation and hunt for bargains.
Two-thirds of those surveyed said they planned to shop differently due to concerns about the economy. While 74 percent of these shoppers said they planned to buy items on sale, a good 57 percent said they will look for lower-priced items. Continued...
