Flemington, NJ, October 21, 2009 – A new media study among 385 Americans revealed that consumers’ will not increase their holiday spending for 2009 despite the improving economy. These results were compared to a similar study from November 2008 which showed a significant decline in holiday spending budgets among consumers compared to previous years.
The study was conducted by HCD Research using its MediaCurves.com® website during October 19-20 to obtain viewers’ perceptions of the nation’s economy and how it will influence their spending and budgets during the 2009 holiday season. Results were also compared to a similar study from November 2008.
In the 2009 study, the main reason for consumers restricting their holiday spending budget was the uncertainty with regards to the economy. This year’s study, the top two reasons for budget restrictions on holiday spending include increased expenses and fear of job loss.
In 2008, 62% reported that they planned on spending anywhere from $0-$500 on gifts for the holidays while 37% planned on spending over $500. In our recent 2009 study, 60% reported that they will spend anywhere from $0-$500 and 36% plan on spending over $500. Results from the past two years of studies are nearly identical which reveals that consumers are holding back on increasing their budgets despite the improving economy.
Among the findings:
“How much total money do you anticipate on gifts for this holiday season?”
|
|
2008 |
2009 |
|
|
Total |
Total |
|
$0 |
1% |
2% |
|
$1-$100 |
16% |
13% |
|
$101-$300 |
26% |
25% |
|
$301-$500 |
19% |
20% |
|
$501-$700 |
14% |
16% |
|
$701-$1,000 |
6% |
10% |
|
$1,001-$2,000 |
14% |
6% |
|
$2,001-$3,000 |
3% |
2% |
|
More than $3,000 |
0% |
2% |
|
Not sure |
1% |
5% |
“Is this amount less, more or the same this holiday season compared to last year?”
|
|
2008 |
2009 |
|
|
Total |
Total |
|
Less |
59% |
38% |
|
More |
5% |
15% |
|
The same |
36% |
43% |
|
Not sure |
0% |
4% |
“What is the main reason you’ll be spending less this holiday season?”
|
|
2008 |
2009 |
|
|
Total |
Total |
|
Job loss/fear of job loss |
23% |
27% |
|
Uncertainty in regards to the economy |
37% |
22% |
|
Increased expenses in other areas |
34% |
31% |
|
Saving for other big expenses to come |
5% |
12% |
|
Other |
1% |
7% |
Editors/Reporters: For more information on the study, or to speak with Glenn Kessler, president and CEO, HCD Research, please contact Vince McGourty, HCD Research, at (908) 483-9121 or (vince.mcgourty@hcdi.net). You can also receive updates from MediaCurves.com by following us on Twitter: http://twitter.com/mediacurves and Facebook: http://www.facebook.com/pages/Flemington-NJ/MediaCurves/86691908820
HCD Research is a marketing and communications research company headquartered in Flemington, NJ. The company's services include traditional and web-based research. For additional information on HCD Research, access the company’s web site at www.hcdi.net or call HCD Research at 908-788-9393. MediaCurves.com® (www.mediacurves.com) is a media measurement website that provides the media and general public with a venue to view Americans’ perceptions of popular and controversial media events and advertisements.
|
 Send This Thread to a Friend |
|
|
