Retail

Holiday shoppers to spend less in 2020: National Retail Federation

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Shoppers walk past the Rockefeller Center Christmas tree in New York.

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As holiday shoppers look for gifts, they plan to spend less overall and pull back on purchases for themselves, according to a survey by the National Retail Federation.

The retail industry trade group said Wednesday that consumers expect to spend $997.79 on gifts, holiday items like food and decorations and additional “non-gift” purchases, according to a survey of 7,660 consumers conducted in early October. That’s a drop of about $50 from last year’s survey.

Nearly all of that drop came from people who say they are hesitant to buy items for themselves or their families that aren’t gifts while they are holiday…



Source cnbc.com

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