Consumers Cut Back
Consumers will spend less this holiday season, according to a recent survey released by the Conference Board, the New York–based organization that publishes the Consumer Confidence Index. For the holiday 2009 season, consumers are expected to spend an average of $390 on Christmas gifts, a decrease from last year’s estimate of $418. The Conference Board and research company TNS surveyed 5,000 U.S. households about their holiday spending plans in November. Books, apparel/footwear, toys/games and movies/DVDs topped consumers’ wish lists, and promotional deals and discounts will be key, they said. For online shoppers, free shipping is also important. The top spenders will be New England households (Connecticut, Maine and Massachusetts).
