No Bright Lights Looking Ahead to Christmas Spending
A new poll out doesn't hold good news for retailers, America's Research Group found that more than one-quarter of Americans -- 27 percent -- plan to spend less during the holidays this year. Another 55 percent plan to spend only as much as last year, with only 18 percent set to spend more, down from 23 percent last year.
The survey done for Reuters also found that more than half expect the economy to slow further before it recovers, and about 51 percent don't feel better about their family finances. America's Research Group President Britt Beemer said, "Retailers better be worried about Christmas. If half of Americans believe it is going to be worse before it gets better, they may not be too excited about buying much this Christmas season."