Source: Press release
SEATTLE, Washington — Despite early projections of a robust holiday season for U.S. retailers, according to a new U.S.- Canada study commissioned by World Vision, an international relief and development organization, more Americans, almost 7 out of 10 (69 percent), say they’ll spend less on holiday presents this year as a result of the current economic climate. Last year, just over half (only 57 percent) said they would.
Earlier this month, a consumer study for the National Retail Federation predicted that holiday spending this year in the United States would be up 2.3 percent. That study also said the economy would have less of an effect on holiday spending this year than in 2009.
According to the World Vision survey, conducted by telephone by Harris Interactive in November, 2010, the tough economy will affect holiday shoppers in the United States harder than it will hit Canadians. Americans are more likely than their Canadian counterparts to say that, as a result of the economic climate, they will spend less money on holiday gifts (69% vs. 61%) and are now more likely to give charitable gifts as holiday presents (51% vs. 42%).