Survey says: Holiday shoppers plan to spend less

|By:, SA News Editor

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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