HOLIDAY SPEND PROJECTION: The Conference Board, in a survey conducted by Nielsen, said U.S. households plan to spend $498 on gifts this holiday season.
That’s down from $521 last year. Lynn Franco, director of economic indicators at The Conference Board, which tabulates the monthly consumer confidence index, said that consumers are in relatively good spirits, and that “in keeping with holiday trends, consumers will be seeking bargains and incentives, and an increasing number say they plan to shop online this season.”
About one-third of holiday shoppers saying they expect more than half their purchases to be on sale or discounted. Nearly 70 percent said they expect to buy a portion of their gifts online.