About one-third of customers say they will spend less on
gifts in the upcoming holiday season, according to a survey by BIGresearch.
While 32.4 percent said they plan to scale back their
holiday spending budgets, 26.5 percent said they are budgeting the same amount,
versus 28.3 percent who said that in 2010.
Only 4.1 percent said they intend to spend more, on par with
3.8 percent a year ago.
Consumers also plan to stay value conscious as well, with
43.5 percent saying they will be scouting for gifts on sale.
If consumers are continuing to pinch their pennies, it could
be because they remain nervous about the economy: Only 27.8 percent told
BIGresearch they expect the economy to return to pre–economic crisis levels, versus 44.6 percent who expected a bounce-back in July 2009.