Just over half of consumers (52 percent) intend to spend the same amount on holiday spending in 2010 as they did in 2009; 42 percent plan to spend less; only 6 percent anticipate spending more.
Broken down by generation, the 42 percent who intend to spend less comprise 51 percent of the baby boomers, 42 percent of gen X and 35 percent of gen Y surveyed.
Broken down by generation, the 6 percent who plan to spend more comprise 3 percent of baby boomers, 6 percent of gen X and 12 percent of gen Y surveyed.
Twelve percent of consumers will buy no gifts whatsoever this holiday season; 5 percent will spend $1,000 or more; the rest will spend from $1 to $999, with the most popular range being $200 to $500 (selected by 27 percent of respondents).
The average anticipated spend is $266 for baby boomers, $294 for gen X and $245 for gen Y, for an average among all three generations of $279.
Twenty-seven percent of respondents said they have hidden a gift purchase from their spouse or significant other.
About four out of five (79 percent) of working people do not intend to purchase gifts for their colleagues this year; 21 percent will do so.
Of that 21 percent of folks buying presents for colleagues, 65 percent said they will buy gifts because, "They are my friends and I enjoy buying presents for them"; 19 percent feel obligated "because they buy for me"; 6 percent are "trying to gain favor from bosses, clients and/or colleagues."
If they could do anything they wanted with money budgeted for holiday gifts, almost 4 in 10 respondents (39 percent) would still use the money to buy holiday gifts; 22 percent would instead use the money to pay off debt; 20 percent would use the funds to pay their monthly bills; 11 percent would take a family vacation; 4 percent would give the money to charity.
Fifty-eight percent of men surveyed intend to spend the same amount on holiday gifts in 2010 as in 2009; 47 percent of women expect to do the same.
Forty-eight percent of women surveyed expect to spend less this year than last on holiday gifts; 35 percent of men expect to spend less, as well.
Source: Javelin Strategy & Research
Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.