Discover®
News and Discover's U.S. Spending MonitorSM
According to Discover's website, their Discover® U.S. Spending MonitorSM indicates about two-thirds of consumers anticipate that less will be spent holiday
gifts. With retailers hoping for a better economy to boost holiday spending, consumers’ spending intentions to spend less can be disappointing to retailers.
The Monitor asked about 5,000 consumers if they would spend more, less or the same as last year on holiday gifts and almost 63% said they planned
to spend less this year.
Last
year, 2008, was the worst holiday shopping season on record. One concern is that more women than men anticipate spending less on gifts this year. Many
consumers may cut over-all spending to cover higher expenses for gas and groceries.
About 52% plan to reduce purchases like going out to movies or restaurants and 51% of consumers plan to cut home improvement spending. As for vacations,
over 50% plan to make cuts in the months ahead. For all the details about Discover's Monitor information,
visit their website for all of these details and more news.
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