Holiday Shoppers Are Crossing Themselves Off Of The Gift List, Trade Group Says

As holiday shoppers look for gifts, they plan to spend less overall and pull back on purchases for themselves, according to a survey by the National Retail Federation. The retail industry trade group said Wednesday that consumers expect to spend $997.79 on gifts, holiday items like food and decorations, and additional “non-gift” purchases, according to a survey of 7,660 consumers conducted in early October. That’s a drop of about $50 from last year’s survey. Nearly all of that decline came from people who say they are hesitant to buy items for themselves or their families that aren’t gifts while they are holiday shopping, even if there’s a big sale, the survey found. They plan to spend a little less on gifts than last year, a drop of about $8, according to the survey. Read more at CNBC.