NEW RESEARCH SHOWS RECORD NUMBERS WILL SPEND LESS ON HOLIDAY SHOPPING
Charleston, SC – September 23, 2010 - A record high 43.0% of American shoppers plan to spend less during the last quarter of this year than they did in 2009, while only 11.0% expect to spend more this Christmas season according to new research conducted by America’s Research Group.
"Pessimism among Americans about the upcoming Christmas season is off the charts," said C. Britt Beemer, Founder and CEO of America's Research Group (ARG). "Never in the 31 years I've been conducting research have I seen such pessimism among Americans when it comes to the Christmas season."
"With this kind of mindset this close to the holidays, it amounts to group depression," he added.
Consumers say that financial worries will force them to spend less this Christmas. They worry about their job security, they are using cash and paying as they go rather than using credit cards, and they have little confidence in the direction of the economy.
"President Obama has pierced the side of Lady Liberty, reducing the spirit of hope among consumers as they wonder when the recession will ever end," Beemer said. "Americans see massive government debt, more home foreclosures in their neighborhoods, and little or no improvement in their local economy, even after $1 trillion spent in government stimulus."
The survey consisted of 1,000 telephone interviews conducted September 7 to 10, 2010 at ARG headquarters in Charleston, SC. The error factor is plus or minus 3.8%.
America's Research Group, one of the nation's foremost consumer research and strategic marketing firms, marked its 30th anniversary in 2009. CEO Britt Beemer is a key resource and advisor to leading brands and top retailers. He is author of The Customer Rules, published by McGraw-Hill. He is also founder of the Beemer Report web site (www.beemerreport.com).