UTICA, N.Y. – More than half of U.S. adults (51 percent) say they will spend less on holiday gifts this year than they did in 2009, according to a Zogby Interactive Poll released this week.
Only 7 percent of those surveyed plan to spend more this holiday season compared to last year. Still, when asked about their actual holiday gift budgets, the results were similar to those given in a survey conducted last year. Forty-four percent of American adults plan to spend between $101-$500 on holiday gifts for others this year, compared to 45 percent in 2009.
When asked what they would do if they found the perfect gift for someone, but it would put them over budget, 40 percent said they would not buy it and 19 percent said they would return another gift so they could stay on-budget.
“Our results show that retailers will need to keep offering deep discounts in order to even match what was a poor holiday sales season in 2009,” pollster John Zogby said. “Nearly one-half say they will spend less overall on the holidays this year, but their actual estimates of what they will spend on gifts is the same as 2009. Retailers should expect another down year, and must hope this doesn’t become the new normal.”
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