Americans Will Spend Less This Holiday Season According to Polls

A recent Consumer Reports Holiday Shopping Poll shows that 23 percent of Americans say that they will spend less this Holiday Season than last year. 22 percent of the respondents also say that they expect to finish their Holiday shopping after Thanksgiving, that's an 8 percent drop from last year's 30 percent.

The Consumer Reports survey also found that majority of the respondents (43 percent) managed to stay on their budget while eight percent went overboard with their shopping. According to the survey, women and household with children are the most likely candidates to make a budget.

The Consumer Reports Survey also revealed that clothing is the number one gift that consumers plan to buy this Holiday season however in 2006 clothing was also the gift that triggered the most disappointment and the most disappointed in receiving them-men. The second placer for the gift that consumers want give are gift cards, electronics only rank third.

So what should you give your husband/boyfriend/son this Christmas if they don't want socks, sweaters, or any type of clothing? According to the Consumer Reports survey, most consumers want to receive electronics this Christmas with 25 percent of the male respondents surveyed saying they want electronics and 19 percent of the overall respondents saying they also want to receive electronic gifts. Women on the other hand, are okay with receiving gift cards as 15 percent of the respondents say while 13 percent of the women respondents want electronics.

If you receive a gift that looks strangely familiar, maybe that's because you have received a re-gift. 24 percent of the respondents of the Consumer Reports surveys admitted to having re-gifted presents during the 2006 Holidays, 27 percent of those admitting to the deed are women while only 21 percent of the male respondents admitted to re-gifting.

Online shopping will continue to be a popular choice this Holiday season with over 65 percent of the respondents saying that they will do their shopping online. The most likely online shoppers are male according to the poll; 23 percent of the men compared with 13 percent of the women says that they will do their shopping online.

The recent Consumer Reports Holiday Shopping Poll also reveals that people who will opt for extended warranty service are down by 5 percent with only 37 percent of the respondents saying that they purchase extended warranties compared with the 42 percent of last year.

Tod Marks, senior Editor of Consumer reports says that their finding suggest that consumers are tightening their budget this year. Marks says that this year's holiday shopping landscape is vast and in order to avoid disappointed gift recipients, consumers will have to make wise decision on their budget and purchases.

SOURCE:
Consumer Reports, "Consumer Reports Holiday Shopping Poll: Consumers Shopping Later and Spending Less" Prnewswire.com