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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One-third of consumers said they planned to spend less money on gifts this holiday season. Only 15% said they would spend more.
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44% said getting a good deal is more important than it was last year.
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People will cut back on gifts for themselves, presents for
their pets, decorations and holiday travel; 70% said they plan to buy
clothing.
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Other things topping the gift-giving list: electronics, gift
cards, toys and cash; 55% of the respondents said they’re likely to give
money.
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Consumer Reports found that as of October about 14 million
Americans were still carrying credit card debt from gifts purchased last
year.
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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.”
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As of mid-October, three in four Americans had not begun their holiday shopping.
