Christmas Shoppers to Spend Less, Use Cash
By Staff -- Gifts & Decorative Accessories, 11/10/2009 11:34:00 AM
Columbus, OH – About 9 percent of shoppers plan to increase their near-term spending, according to Retail Forward ShopperScape, compared with 8 percent a year ago. More progress is apparent at the other end of the spectrum: while 45 percent plan to curb their near-term spending, that’s down from 53 percent last year. Even fewer plan to spend more on holiday gifts than in general: a mere 7 percent, the same as said so last October. About 45 percent plan to curb holiday gift spending, down from 50 percent last year. The average budget is $531, versus $558 last year, but there’s a large undecided vote unaccounted for: 42 percent don’t know how much they will spend.Cash in hand is king this year: A whopping two thirds of shoppers plan to buy their gifts with debit cards, cash or check. Only 35 percent plan to use a major credit card. And it’s not just for Christmas: 49 percent of shoppers agree they are using cash, checks or debit cards to pay for more purchases compared with a year ago.
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