NPD: Consumers Spending Less
In what will probably be no surprise to many retailers, consumers are spending less this holiday season, according to a recent survey released by Port Washington, N.Y.–based NPD Group. According to the research company, 81 percent of the consumers surveyed in December said they plan to spend less money than usual over the holiday 2008 season. Nearly 50 percent expressed concern over job security, and more than 50 percent said they planned to spend less this year on apparel.
