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Mike Benbow, Business Editor
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Published: Wednesday, November 4, 2009
More say they will cut holiday expenses
A third of U.S. adults said they would spend less this year than they did in 2008 on gifts, while 49 percent would spend about the same amount, according to a Consumer Reports poll on holiday shopping.
Meanwhile, almost two-thirds of respondents said they were planning to cut back on total holiday expenses, which include travel plans, presents and holiday decorations.
More Americans are also regifting, or passing on a gift they got to someone else — 36 percent of adults this year say they’ve done so, compared with 31 percent last year.
The survey polled 1,000 U.S. adults from Oct. 15-18.
It its worth noting, though, that Americans who plan to spend less doesn’t always do so. The survey found that of those Americans who made a budget for last year’s holiday gift buying, 44 percent spent more than they had intended.
Associated Press
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