Survey: Economy Impacts Holiday Spending
Results from a recent survey show that nearly two-thirds of American families will be negatively impacted this holiday season by the country's current economic situation.
The National Retail Federation (NRF) recently released the results of a survey that focused on the spending habits of Americans this holiday season.
Last year, consumers spent an average of $705 on holiday-related shopping. This year, that amount is expected to drop to $682.74. Here are additional results from the survey:
- Forty-three percent of holiday shoppers surveyed said sales and price discounts will be the most important shopping factor.
- Seventy percent will shop discounters, though 55.8 percent will also purchase from department stores.
- Thirty-nine percent of shoppers will begin holiday shopping before Halloween, and 75 percent of the holiday budget will be spent on gifts.
- Spending on family members is expected to drop 2 percent, while spending on co-workers and friends is expected to see double-digit drops.
For more results, read the entire NRF survey article.
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