Consumers worried, waiting to shop for holidays
More consumers say job concerns are causing them to spend less on the holidays this year and the majority are still waiting for big discounts to finish their Christmas shopping, a new survey said.
Thirty-eight percent of the people surveyed by America’s Research Group said that concerns about keeping or getting a job were causing them to spend less this holiday season.
That compares with about 26 percent of people who said a year ago that job concerns were causing them to spend less on holiday shopping, said Britt Beemer, founder of America’s Research Group, a consumer research and marketing firm.
The number has held around the 38 percent level since early September, Beemer said, noting that people worried about their jobs could cut their holiday spending by one-third to one-half.
At the same time, consumers are holding out for big deals, as 58 percent said they are waiting for larger discounts later in the season to finish their holiday shopping.