According to a recent survey by financial services firm Edward Jones, some Americans are planning to hold on to their wallets this holiday season. In fact, 37 percent say they plan to spend less on holiday shopping in 2013 than they spent in 2012, contrary to what Edward Jones’ retail analyst is anticipating: holiday sales to increase by about 2.8 percent.
The survey, conducted during the government shutdown, provides a unique perspective into how the political landscape and other short-term events may impact consumer spending behaviors. More than one-third (37 percent) plan to spend less on holiday shopping in 2013 than they spent in 2012, and another 39 percent say their shopping budget will be the same. Just 18 percent plan to spend more this year.
For more information, visit www.edwardjones.com.