Consumer Spending to Be Flat This Holiday Season – But More Online

Burst Media, a leading provider of advertising representation, services and technology to independent Web Publishers, today released the results of a survey focused on consumer’s 2009 holiday spending outlook. Administered last month to over 2,300 adults 18 years and older, the survey found that 62.8% of consumers plan to spend the same or cut back on their holiday purchases compared to 2008. Although consumers plan to hold tight with their spending this holiday season, 85.3% of respondents will shop online.

Given prevailing economic concerns, it is not a surprise that only 14.6% of respondents expect to spend more this holiday season than they did in 2008, while one third (32.7%) expect to spend less and 30.1% expect to spend about the same as they did last year. Interestingly, women will be more frugal than men this holiday season with 38.1% planning to spend less on gifts and entertainment, compared to 27.3% of all men. All income segments will trim holiday spending this year with 29.5% of respondents reporting household income (HHI) of less than $35,000 cutting holiday spending, as will almost half (46.3%) of households reporting HHI of $35,000-$75,000, and nearly one-third (31.3%) of households reporting HHI of $75,000 or more.

The Internet has undoubtedly become a go-to holiday shopping resource. Despite the fact that 63% of consumers express concern over credit card security when making an online purchase, seven out of ten (69.3%) still plan to make an online holiday purchase. Consumers will also use the Internet to “window shop”. The most popular online window-shopping activities are comparing different retailers to find the best price (56.8%), and comparing the features of different brands (55.3%).

(Source) Press

Tags: adults, burst media, consumers, credit card security, economic concerns, hhi, holiday season, holiday shopping, holiday spending, household income, households, independent web, representation services, respondents, segments, surprise, web publishers, window shopping

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