Holiday shopping forecast brighter this year

Now that Black Friday has kicked off the holiday shopping season, consumers across the country are swept up in a monthlong shopping frenzy to ensure that everyone on their lists gets just what they want.

And even though many retailers expected a dim holiday shopping season thanks to high gas prices and the troubled housing market, a new study by the University of Florida indicates that, overall, consumers plan to spend more this year than in 2006, particularly consumers with household incomes of more than $60,000 a year.

About 73 percent of consumers polled plan to spend the same or more on holiday gifts than they did last year. This increased spending doesn’t necessarily mean that consumers are buying more gifts, however; they’re simply purchasing more big-ticket items. High-tech games and toys are especially popular.

In fact, a study by Solutions Research Group indicates that more than 75 percent of Americans have a digital product on their wish lists this holiday season.

Flat-screen, high-definition TVs, computers and digital cameras top the list as the most sought-after items, not to mention other popular high-tech items like GPS navigation systems, video-game consoles and cell phones.

Consumers also plan to spend more money thanks to longer shopping lists — they are simply planning to buy more gifts for more people. So, if you find your shopping list longer than usual, you’re not alone.

According to the study, other popular items this season include gift cards, apparel, home goods and toys and games. In fact, the majority of consumers plan to spend more on all of these items this season than last — news that will certainly lead to lots of holiday smiles from your family members and retailers.

Happy shopping!