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SEASON'S GREETINGS FROM THE NATION'S CONSUMERS
Published November 18, 1994
Roughly three out of four Americans plan to spend at least as much this holiday season as they did last year, according to a nationwide consumer survey released today by Arthur Andersen, LLP. Jay Scansaroli, managing partner for Arthur Andersen's worldwide retail practice: "We've seen job growth, low inflation, and rising disposable incomes in 1994. And, although consumer debt has grown during the year, it has not seemed to put a damper on the holiday spending spirit." OTHER SURVEY FINDINGS: 78% of the 1,050 consumers surveyed plan to pay for holiday gifts mostly by cash or check -- only 22% plan to use mostly credit; apparel is likely to be the strongest sales category, with consumers planning to spend 35% of their holiday budget on clothing; toys represent the second strongest category, drawing 22% of consumer budgets; and electronic items came in third with 13% of consumer budgets. WHERE TO SHOP?: Nationwide, consumers plan to do 44% of their holiday spending at department stores; 22% at discounters; and 10% at specialty stores (Arthur Andersen).