Deloitte holiday survey: Giving steady, but spending slides

New York – Consumers are expecting a couple of contradictory things for this holiday season – they plan to buy more gifts but spend less money.

According to Deloitte’s 22nd Annual Holiday Survey, 41% of consumers plan to reduce their spending this season. On the hit list for fewer expenditures: home/holiday furnishings, home improvement, socializing/entertainment, charitable donations and non-gift clothing.

“Surprisingly, the recent credit crunch was not cited as a primary reason for spending less this year,” according to the report. “Lower income households were more likely to cite higher food and fuel costs as a primary reason for spending less year, while those at higher income levels were more likely to cite volatility in the stock market and declining home values.”

Department stores and discounters remain the top destinations. Gift cards are still hot, with 69% of consumers planning to by them vs. 66% last year.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!