Given the 2008 holiday shopping and gift-giving season is seeing a less-than-robust economic downpour, I was interested in finding out who is going to feel the drought and who will feel the rain.
Consumer Reports National Research Center surveyed American shoppers who are cutting back this year and has revealed their findings. There are some interesting figures in their recent consumer report as well.
Here are a few of the highlights:
84% say they plan to buy fewer gifts for themselves
40% plan to cut back on buying for friends and family
30% are cheaping out on service providers (delivery person, hairstylists, etc…)
29% percent will skimp on co-workers
Of their family and friends, grandparents, grandchildren, and children under age 18, are the least likely to feel the impact. Amazingly enough, pets will fare quite well this year. Only 23% say they’ll spend less on Fido and Spot. Let me think about that a minute. The person I work with every day or the dog, hmmm….
An estimated 42 million American households craft for the Nov-Dec gift-giving season
58% of holiday shoppers stated they were more likely to make gifts this year than last year
41% said handmade gifts were the best use if their holiday shopping dollars this year
I don’t know if I am like most people, but I appreciate the thought and effort behind a gift more so than the gift itself. How about you?