A survey by NPD Group, Port Washington, N.Y., found that 89% of American consumers will spend the same or less during the upcoming holiday shopping season this year as they did last year.
The survey, conducted by NPD Group, a global market information company, had more than 2,300 respondents.
Sixty-nine percent of American consumers indicated they plan to spend the same amount this holiday as last year. Twenty percent of consumers indicated they plan to spend less this year.
Spending $661 on average
On average, survey respondents
Value will be a holiday shopping theme this year as consumers said they will delay purchases until retailers offer sales. Consumers said they will also shop more in discount stores, warehouse clubs, outlets and online than other types of retailers. Seventy-nine percent of consumers plan to shop this holiday season in discount stores such as Kmart, Target and Wal-Mart.