'Tis the Season to…Spend

By Published on .

Consumers are saying full speed ahead when it comes to opening their wallets this holiday season. According to a Wirthlin Worldwide telephone survey of 1,001 American adults, conducted between September 21 and 26, 60 percent say they intend to spend the same or more this holiday season, compared with last year. (That's an encouraging number, reports McLean, Va.-based Wirthlin: In 1997, amidst a robust economy, 57 percent of Americans anticipated spending the same or more during the holidays.) At the same time, Americans also said they will not be spending willy-nilly. In fact, 28 percent of respondents in the September poll say they intend to increase their savings as a result of the terrorist attacks. Those ages 35 and under lead the pack of savers, with a full 38 percent saying they plan to save more in the months ahead. Which makes you wonder: How do they plan to save and spend more at the same time?

YOU CAN'T TAKE IT WITH YOU

Younger Americans are more than three times as likely to spend more this holiday season than the older set.

COMPARED WITH LAST YEAR, THIS HOLIDAY SEASON, I WILL SPEND…

AGE 35 AGE 35-54 AGE 55+
Less money 37% 40% 41%
More money 35% 23% 10%
About the same amount 28% 37% 48%
More or about the same 63% 60% 58%
Source: Wirthlin Worldwide
In this article:
Most Popular