Survey: 40% plan to skip gifts
It's likely that survey respondents were more likely to have financial issues than the average American, but still, that's a lot.
This post comes from Matt Brownell at partner site MainStreet.
The holiday season got off to a bang over Thanksgiving weekend, with Black Friday sales rising 7% over 2010 and Cyber Monday sales up 22% from last year. But not everyone is getting into the buying spirit this Christmas.
A survey conducted by the National Foundation for Credit Counseling found that a whopping 40% of Americans will not be spending any money for the holiday season on account of financial difficulties. That's up 6 percentage points from a similar question posed by the group last year.
There were 1,232 respondents to the poll, which was posted on the NFCC's website, DebtAdvice.org. Given that the site provides credit counseling services, it's probable that the survey respondents are more likely to have financial issues than the average American, so take that 40% figure with a grain of salt. Post continues below.
It's notable that a rising number of Americans are choosing not to join the hordes of shoppers in spending for the holiday season. While many retailers certainly took the early returns as a sign of good things to come for the holiday season, some analysts have suggested that retailers could see a big drop-off in the coming weeks. If these numbers are to be believed, those retailers may indeed have cause for concern.
For shoppers, though, this could mean some deep last-minute discounts right before Christmas.
Are you one of the many Americans who have chosen to refrain from gifting this holiday season? If so, here are some tactful ways to explain your decision to family and friends.
More on MainStreet and MSN Money:
So what? Santa is a fiction. I heard a more amazing poll two days ago. More than 1/2 on people identifiying themselves as Christians in America, allegedly say that country is more important to them than relligion. I was appalled. Simply speaking, Santa is more important to them than Jesus, because Santa is American cilvil religion and Jesus is the real thing, who demands God gets # 1 priority and will not settle for being put behind, country, family or anything else.
Copyright © 2014 Microsoft. All rights reserved.
ABOUT SMART SPENDING
LATEST BLOG POSTS
VIDEO ON MSN MONEY
BLOGS WE LIKE
MUST-SEE ON MSN
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'