Survey: Economy Impacts Holiday Spending

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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