Are you ready for the holiday-shopping season to begin?
A recent study conducted by the American Affluence Research Center forecasts that holiday shopping will drop by about two percent this year. However, the same report predicts that the overall spending among wealthy households will increase by 2.2 %.
Ninety-seven percent of affluent households plan to purchase gifts this year. This is an increase of 6.6% over last year’s projection. Seventy-three percent of the well-to-do households indicated that their holiday spending would match last year’s.
Will your household spend more or less this year?
…The 11.4 million households represented by the American Affluence Research Center survey account for almost half of total consumer spending, according to the study.