Survey says: Holiday shoppers plan to spend less

The National Retail Federation projects holiday shoppers will spend 2% less than what they laid out last year for gifts.

While more than half of the respondents to the NRF consumer survey blamed the economy for the planned tightening, a "crowding out" effect from the stronger automobile and housing sectors is also being attributed by some economists for the dropoff.

The number of disappointing retail reports (PetSmart, L Brands, Wet Seal, Gap) has outnumbered the upside surprises so far this month.

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Comments (7)
  • mitrado
    , contributor
    Comments (2033) | Send Message
    Still, that's a lot better than Portugal. Here people will spend 50% to 100% less in X-Mas gifts. Most families are agreeing on giving gifts to children only. Exchanging presents among adults is now a relic from the past.
    17 Oct 2013, 02:10 PM Reply Like
  • American in Paris
    , contributor
    Comments (5495) | Send Message
    It could have been avoided if the Portuguese had adopted a more laissez faire approach to the economy. Rent control is a disaster in Lisbon as is the over-regulated labor market.
    17 Oct 2013, 04:25 PM Reply Like
  • Klaus Müller
    , contributor
    Comments (7) | Send Message
    Austerity doesn't' work, that's why europe growth took a dent recently.
    18 Oct 2013, 03:13 AM Reply Like
  • Ishi Kenjo
    , contributor
    Comments (311) | Send Message
    No kidding. When jobs have been replaced with part-time jokes and the government wastes Trillions on who knows what...the majority of Americans are not feeling rewarded by the enlargement of government at the expense of small businesses (the real job creators.)
    17 Oct 2013, 03:38 PM Reply Like
  • Yorick
    , contributor
    Comments (759) | Send Message
    Small Businesses have always been the expansionary job creators. Headwinds now are:


    1. Flagging consumer demand for all but necessities
    2. Rethinking by consumers as to what constitutes a "necessity"
    3. Loans to start or keep a small business running are much harder to get now
    4. Little investment in Capex or people given #1 and #2.
    5. Obamacare changing nature of employee-employer relationship and slowing hiring
    6. Even small businesses competing with China and India for goods.....many services that aren't property maintenance are now not necessities.
    17 Oct 2013, 03:50 PM Reply Like
  • KJP712
    , contributor
    Comments (469) | Send Message
    Great report from the NRF.So instead of spending 100 dollars the consumer will only charge 98.Hard hitting expose from people without a clue.
    17 Oct 2013, 08:05 PM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
    Maybe in America, KJP712.
    I live in the Austerity land and I assure you I won't be spending any more than €15 in X-Mas gifts. And only because I have 2 little cousins, otherwise I'd be spending €0.00.
    18 Oct 2013, 04:05 AM Reply Like
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