Looking Up – Homemade for the Holidays
J.Walker SmithYankelovich MONITOR®
Expectations for the holiday shopping season are modest. But are they modest to the point of frugality? No.
Before Halloween, the National Retail Federation (NRF) released its 2009 forecast predicting a 3.3 percent year-over-year decline in spending. Nearly two-thirds of consumers interviewed said the economy was affecting their plans, with over eight in ten of those saying they were spending less. The average amount consumers said they planned to spend on gifts was $502.90, lower than the expected amount in 2008 ($534.79) and the peak year 2007 ($578.00). These...