Holiday Spending
Spendthrift Spouses Could Hurt Holiday Shopping
Filed in: Black Friday, Commentary, Family, Holidays, News, Recession, Thanksgiving
Go ahead and join the crowd -- just cross your spouse off your holiday shopping list this year. Time.com reports on this growing trend and the effect it's likely to have on retail sales in this do-or-die last quarter.
"What might be the driving factor that lowers holiday retail sales and stalls a much-anticipated economic recovery? Stingy spouses with children. According to a new survey from America's Research Group, a retail-consulting firm, 50.1% of parents plan on cutting back on gifts to each other this year. That figure is up from 44.4% last year, a surprising jump considering that the U.S. was in the depths of the financial crisis during the previous holiday season. "Parents want to maintain gift-spending levels for their kids, so they are showing more willingness to trim on each other," says Britt Beemer, founder and chairman of America's Research Group..."
