The holidays are months away, but already consumers are worrying about their budgets.
According to a survey by Bigresearch, more than 1 in 3 consumers (36.2%) said they would spend less this holiday season than last year. Just 2.7% of consumers said they would spend more, and 26.1% plan to spend the same. (Other totals: 29.1% say it’s too early to know, and 5.8% don’t celebrate the season.)
Among those planning to spend less, most (69.1%) said they would slash their overall budgets.
Other plans include buying gifts only on sale (48.3%), doing more comparison shopping (40.4%), buying for fewer relatives (32.4%) and giving presents to fewer friends (30.7%).