Description: WASHINGTON, D.C. — Americans predict they will spend an average $805 on Christmas gifts this year, significantly below their estimate a year ago ($942) and the lowest October holiday spending projection Gallup has measured since 2016. The sharp decline in Americans’ spending intentions since 2019 points to weak holiday sales for retailers.
Source: Gallup.org
Date: Oct 27, 2020
Link: https://news.gallup.com/poll/322796/americans-plan-scale-back-holiday-spending-year.aspx
Questions for discussion:
- What does the report say about consumer spending plans this year and the reasons?
- What does this mean for marketers and what would you advise them?
