One-third of consumers said they planned to spend less money on gifts this holiday season. Only 15% said they would spend more.
44% said getting a good deal is more important than it was last year.
People will cut back on gifts for themselves, presents for
their pets, decorations and holiday travel; 70% said they plan to buy
Other things topping the gift-giving list: electronics, gift
cards, toys and cash; 55% of the respondents said they’re likely to give
Consumer Reports found that as of October about 14 million
Americans were still carrying credit card debt from gifts purchased last
During the 2010 holiday season, respondents said they
anticipated spending an average of $457 on gifts, but said in a January
follow-up poll that they actually spent around $556, 22% more; and 45%
of those who made a budget last year exceeded it – 5% went over budget
by “a lot.”
As of mid-October, three in four Americans had not begun their holiday shopping.
Tuesday, November 1, 2011
Fewer Consumers Expect A Jolly 2011 Holiday Shopping Season
Roughly 200 million Americans are expected to go shopping for gifts this holiday season, although with slightly less optimism than last year. According to a new Consumer Reports poll, just 33% of Americans said they expect to be happier this holiday season than last, compared to 40% who felt that way a year ago. Among the other findings:
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