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Shoppers to Spend More Money This Holiday Season, says Survey.
The average consumer plans to spend $791.10 this holiday season, up from $738.11 last year, according to a new study from the National Retail Federation.
The 2006 Holiday Consumer Intentions and Actions survey, conducted by Big Research, also finds consumers will take advantage of holiday sales and discounts, spending an additional $99.22 on themselves.
Almost half of the consumers surveyed (48.4 percent) say they plan on shopping at specialty stores for holiday gifts, and 70.3 percent say they will buy gifts from discount stores.
Of those surveyed, 47.1 percent say they will shop online for holiday gifts, and 61.6 percent will go to department stores. Department stores may see the greatest traffic from young adults, with 79.1 percent of 18 to 24 year olds surveyed planning to shop at department stores for holiday merchandise.
The average holiday gift budget will divide as follows: $451.34 on family, $85.60 on friends, $22.40 on co-workers and $44.52 on others, including clergy, teachers and babysitters.
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