Reply #25: US holiday gift spending to ease this year-survey

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?...

NEW YORK, Nov 22 (Reuters) - U.S. holiday gift spending will likely fall slightly this year and stores will have to offer discounts to satisfy shoppers hunting for bargains, according to a survey released on Tuesday.

U.S. households are expected to spend an average of $466 on gifts this holiday season, down from last year's estimate of $476, the survey by The Conference Board showed.

"Consumers appear to have less Christmas spirit heading into Thanksgiving this year than last year," said Lynn Franco, director of the private research group's Consumer Research Center, in a statement.

"This cautious attitude will have consumers shopping for bargains this season -- retailers will need to offer discounts and promotions to get shoppers into their stores," she said.

About 34 percent of consumers will buy holiday gifts on the Internet, up from 33 percent a year ago, The Conference Board said. Books top the list of online holiday buying intentions.

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