Americans plan to drop nearly the same amount of cash this year in holiday spending as they did last year, according to a poll just out. The average projected spending for this year is $794, down just $3 from last year, reported a CNN/USA Today/Gallup poll conducted last week. Interestingly, although the median amount Americans plan to spend has remained fairly constant in the last few years, the average has dropped because the number of people who plan to spend very large amounts has decreased. Almost a third of Americans (32 percent) expects to spend $1,000 or more for Christmas this year; only a small number less (30 percent) expect to spend between $500 and $1,000; another 30 percent expect to spend less than $500. The average of $794 is down significantly from the $875 average reported in 1999.
Did you hear?... 6 of 10 Americans intend to spend the same or more this holiday season
Even as news reports continue to add fuel to the fire burning into consumer confidence, a recent survey by research firm Worthlin Worldwide finds that 6 of 10 American shoppers say they intend to spend the same or more this holiday season versus last year. Thirty-nine percent of ...read more