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Consumers Plan to Spend at Least as Much in 2012

New study finds two-thirds of respondents expect to spend same amount as 2011.

The percentage of consumers who plan to sustain or increase their holiday spending in 2012 when compared to 2011 is growing, according to a recent survey by the NPD Group.

The survey saw increases in respondents who plan to spend “About The Same” or “More” and a decrease in those who plan to spend “Less”:

Survey Response

2012

2011

“Plan to Spend More”

10%

9%

“Plan to Spend about the Same”

67%

64%

“Plan to Spend Less”

23%

27%

An article in the Baltimore Sun quoted NPD’s chief industry analyst Marshal Cohen as seeing “a light at the end of the tunnel with more consumers telling us they plan to 'spend about the same' and less planning to 'spend less.'"

While the survey results paint a somewhat rosy picture for retailers such as Target, Sears, JC Penney and Kohl’s (four businesses named as stores the plan to shop at this holiday season in the survey), Cohen believes that stores will have to find “creative ways to lure shoppers into the stores,” and that the election will delay the start of the holiday shopping season.

Are you like a majority of the surveyed shoppers who plan to spend “about the same” or “more” than last year?

Tell us in the comments below.

The Good Guy November 15, 2012 at 01:51 PM
The real question that should be asked --- Do consumers actually have this money to spend? The original problem with the economy was caused by people (you and I) spending money they did not have and not being able to pay it back. People buying houses and cars they could not afford. Flat screen TV, cell phones, iPads, laptops, Xboxes, clothes, overpriced groceries, Lattes, dining out, overpriced cable TV, etc. How many of you are still paying for all the stuff you bought 5 or 10 years ago? You still paying for all those $10 trips to starbucks from 2007? Don't do it again. If you can't afford it, don't buy it. As long as people continue to spend more money than they have, the economy will suffer.
Kommon Sense November 15, 2012 at 05:47 PM
This Country is poisoning its own citizenry with debt. Instead of encourages citizens to save their money, this Government encourages us to spend it. The artificially low interest rates dissuade us from spending and encourage spending. This policy will destroy this Country. We have a Country of whiny spenders, not frugal savers, like China.
Right of Center November 15, 2012 at 05:54 PM
Artificially low interest rates? Many credit cards are 12% or more!

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