Consumers Cutting Back Less This Holiday Season Than In “Recession Years”
Yonkers, NY, United States (AHN) – According to a new Consumer Reports Holiday Shopping Poll, about two thirds of Americans plan to spend more this holiday season. Still, projected sales figures are down from 42 percent in 2008.
“Consumers are optimistic, but they don’t necessarily believe that happy days are here again. Credit is tight, unemployment remains high, the value of their homes has dropped and many Americans are facing the prospect of higher taxes of all levels,” said Tod Marks, Consumer Reports’ senior editor and resident shopping expert.
He went on to say, “So while it’s a bit surprising that some plan to spend somewhat more than last year, the fact is they’re insisting on value, value, value.”
In a previous poll conducted by Consumer Reports at the end of 2009′s holiday shopping season, shoppers estimated they spent on average $81 -16 percent higher than what they had planned.
The latest poll also found that most of the people surveyed plan to use cash as often as possible and about four in ten will cut back on credit and debit card spending. Additionally, it revealed that nearly 13.6 million Americans are still paying last years’ leftover holiday debt.
In stark contrast to last year’s holiday season holiday, optimism continues to grow. Forty percent of adults expect their holiday season to be happier than last year.
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