One-third of consumers plan to spend less on holiday season

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The holidays are still months away, but already consumers are worrying about their budgets.

According to a survey by BIGresearch, more than one in three consumers (36.2%) said they would spend less this holiday season than last year’s. Just 2.7% of consumers said they would spend more, and 26.1% plan to spend the same. (29.1% say it’s too early to know and 5.8% don’t celebrate the season.)

Among those planning to spend less, the majority (69.1%) said they would slash their overall budgets. Other plans include buying only gifts on sale (48.3%), doing more comparison shopping (40.4%), buying for fewer relatives (32.4%) and giving presents to fewer friends (30.7%).

-- Andrea Chang