According to a new survey conducted by the National Retail Foundation (NRF), there may be a slight change in the way Americans go about their holiday shopping this season. Consumers are expected to spend an average of $688.87 on holiday gifts and decorations this year, a slight increase from the average in 2009.
"Consumers will still shop with the economy in the back of their minds, but we're starting to see shoppers take baby steps toward a new normal," said Matthew Shay, president and CEO of the NRF. "As Americans open up their wallets for more discretionary gifts like jewelry or take advantage of sales to buy for themselves, retailers will begin to truly believe that the worst may be behind them."
A total of 61.7 percent of respondents said that the economy will affect the way though go about shopping, and provided some insight on how they will compensate for these difficult financial times.
Approximately 42 percent of those interviewed say they would seek out sales or price discounts, while 30.9 percent of consumers said they would comparison shop online.
to find better deals on gifts.
According to Consumer Reports, online shoppers should also consider using coupons or targeting local sales if they want to get the most bang for their buck this holiday season.