U.S. Consumers Plan To Spend Less During Holiday Shopping Season

For the upcoming holiday season, 30% of consumers have said they plan to spend less than the year before, an increase from 26% who answered that way in '08, according to NPD Group's Annual Holiday Survey. Results from 1,995 interviews conducted from September 8-15 also show a 20% rise in the 18-24 demographic saying electronics are the gift to purchase this season. Apparel held steady, with 49% of consumers saying that they intend to buy apparel as a gift, flat with '08. Value will also play a big role, as 62% of respondents stated value would determine what and where they buy. Sixty-one percent of respondents said special sales would determine purchases (NPD Group).

NOTES: * = TVs, home theater systems/DVD players/recorders, home audio products, satellite radio, GPS systems, cell phones, desktop/laptop computers, computer peripherals, digital & video cameras, MP3 players. ** = Bags, small personal accessories, watches