Shoppers To Spend More This Holiday Season
According to a new survey released by Myvesta, Americans plan to spend slightly more this holiday season on friends and family than in 2004. Myvesta's annual Holiday Shopping Survey found that the average American plans to purchase $747 in holiday gifts this year compared to $716 spent in 2004. This is an increase of up 4.3% from 2004. Of the total number of people surveyed, nearly half (49.5%) plan to spend less than $500 this holiday season.
"While the average amount people are planning to spend has risen slightly, this may not turn into a banner year for retailers," said Steve Rhode, president of Myvesta. "Individuals and families are not much better off than they were last year and most do not have the extra cash available to drastically increase their holiday spending."
Some other results from the survey:
* Southerners will spend $847 this year - the most on holiday purchases of any region
* Westerners will spend $660 this year - the least on holiday purchases of any region
* People in the Northeast plan to spend $720 and those in the Midwest plan to spend $699.
* 12.7% of the people surveyed plan to spend more than $1,000 this year.
* People between the ages of 35 and 44 will spend an average of $829 this year - the most of any age group.
* Both males and females plan to spend an average of $747 this year.
* Married couples will spend on average $848 this year - nearly 56% more than those who are single who will spend an average of $545.
The survey contacted 1,000 random people by telephone from November 4 to November 6.
|
