Nielsen Finds 15.6% of Consumers Plan to Spend More on Tech Gifts This Holiday
Nearly 30 percent of U.S. consumers plans to spend less on electronics gifts this holiday season than last, said the Conference Board Thursday. Nielsen canvassed 5,000 homes in October as part of its monthly consumer confidence survey, and found 15.6…
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percent plan to spend more on electronics than in 2018 and 54.8 percent about the same. That compared with 10.4 percent who plan to spend more on gifts of all types this year. Consumers plan to spend on average about $675 on gifts this season, compared with last year’s estimated $627, but they expect to take advantage of “steep discounts,” the board said. “Consumers are gearing up for the holidays, with signs indicating they will not rein in their spending,” it said. “Consumer confidence is at historically strong levels, the job market remains solid, and the economy is in a record-breaking year of expansion. Retailers should expect strong demand this season.”