Given the economy, it’s no secret that this holiday season is likely going to be a cautious one – but a new survey by the NPD Group shows that entertainment companies might have a rough go of things at retail stores.
NPD has released its annual holiday retail outlook – and while most shoppers say they plan to spend about the same as last year, the general lack of “must-have” products has people less enthusiastic about movies, video games and electronics than they were last year.
Only 24 percent of the people surveyed said they planned to buy a movie or DVD this year, down from 29 percent last year. Electronics took a big dive, falling 8 points to 16 percent and just 15 percent of shoppers plan to buy a video game or gaming system – a 5 percent drop from 2009.
So what’s going to boost sales? Price. As people keep a close eye on their budget, over 60 percent say the thing that will influence them the most as they decide what to buy this year will be driven by cost.