Ready to shop to 'til you drop? You're not alone. A recent report predicts that consumers are slightly loosening their holiday purse strings, but the ongoing economic tumult is inspiring frugal-minded shoppers to search for a bigger bang for their buck.While the forecast is improving, a Consumer Reports holiday shopping poll predicts that one in three American shoppers plan to spend less this holiday season, down more than 40 percent compared to 2008.
However, it doesn't mean that stores will be barren. In fact, shoppers estimated they spent an average of $811 in 2009--more than 15 percent than they had initially planned.
In other words, making a budget and sticking to it are two completely different things.
"Consumers are optimistic, but they don't necessarily believe that happy days are here again. Credit is tight, unemployment remains high, the value of their homes has dropped and many Americans are facing the prospect of higher taxes of all levels," says Tod Marks, Consumer Reports senior editor. "So while it's a bit surprising that some plan to spend somewhat more than last year, the fact is they're insisting on value, value, value."
Also, shoppers plan to pay with cold, hard cash.
According to the Consumer Reports poll, a majority of those polled say they will pay using cash for holiday gifts and about four in 10 will cut back on credit and debit card spending.
Click here for the report.
