Holiday spending surprise

More of our younger shoppers are feeling the pinch of higher gas and utility prices. I rarely question the validity of our own data, and some of our young shoppers are working three jobs, but one explanation of these findings is that the younger people who find the time to respond to us are generating less income than their older counterparts. If national spending reflects what our shoppers are telling us, its small wonder that holiday sales seem flat.

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One of our shoppers explains: "The higher price of gas is affecting our budget greatly. My husband is on a fixed income due to a medical disability and I work for a nonprofit, so pay increases are minimal (but I really love my job and it allows creativity/flexibility in my schedule). Our son is a college freshman this year so we are feeling pinches. We are being careful in what we are purchasing, and what we'll be able to spend on holidays will be lower. I love to send Christmas cards to friends, but that probably won't be an option this year. We're also being careful about combining trips in the car to make being out really count." Among our shoppers who will cut back on spending this holiday season to make up for rising gas and utility prices:

         Under 35   33% will cut back
         Age 35-49  24% will cut back
         Age 50-74  21% will cut back
         Age 75+    18% will cut back

Happy Holidays, Mona Doyle

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