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Top 5 Consumer Holiday Spending Trends in a Dismal Economy
Thursday, November 20, 2008
Survey Shows 51.7% of Consumers will Spend Less on Holiday Shopping during Recession
OAKLAND, Calif., Nov. 20 /PRNewswire/ -- Consumer holiday spending
patterns are changing dramatically in the wake of the new recession, a new
survey conducted by Elfster.com has found. Elfster, the world's premier
provider of online gift exchange services such as Secret Santa, conducted a
nationwide survey of US consumers in October of 2008. The results highlight
that:
1. People are spending less:
51.7% of consumers said they plan on spending less money on holiday
gifts this year compared to last year and 93.7% said they would not be
spending more.
2. The environmental movement is affecting consumption:
88.6% of survey respondents agreed that reducing holiday excess is a
good way to be more "green."
3. Secret Santa Gift Exchanges are growing in popularity:
92.7% of those surveyed were considering participating in a gift
exchange where they will buy and receive only one gift rather than
buying multiple gifts.
4. Most prefer Shopping locally:
While many will shop online, 72.4% of those surveyed are still
shopping primarily in bricks and mortar stores: local shops, malls,
and big box retailers.
5. Books, Movies and Apparel are the most popular gifts:
More than any other categories, Books, Music, Videos, and Apparel
claimed the highest rankings of gifts people plan to give, accounting
for 68.6% of planned gifts.
"More people are recognizing they can spend less money, but still do more
for their local economy by choosing local independent businesses for their
holiday shopping," said Jeff Milchen, co-founder of the American Independent
Business Alliance. "By doing business locally, we tend to reduce our impact on
the environment while nurturing community character and cohesiveness."
"A service like Elfster is a responsible way to ensure gifts we give or
receive are truly wanted or needed items, reducing environmental impact while
knowing every gift will be valued and not wasted."
"Across the nation, local business owners are working hard to rebuild our
economy," said Mary Rick, Program Director at the Business Alliance for Local
Living Economies (BALLE). "Elfster offers a great way to save money, reduce
your carbon footprint, and find meaningful gifts from your locally-owned
businesses. If you want to stretch your dollar and support your community, we
encourage you to Think Local First this holiday season."
About Elfster
Elfster.com is the premier online provider for group-generated gift
exchanges. Elfster aims to revitalize and enhance the tradition of Secret
Santa gift exchanges by integrating time-honored ideas with new thinking and
new technology. The company's value propositions are simple: provide a service
that is easy, fun, useful, and responsible. All free to customers.
http://www.elfster.com
Contact: Sharon Helfand
Tel: (818) 988-4746
Email: press@elfster.com
Web: http://www.elfster.com
SOURCE Elfster.com
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