Bigger Holiday Spenders
According to a new survey, Americans are going to shop early this year and spend a little bit more than last year -- all with the help of new technology.
In case you're wondering why Home Depot stores are already well-stocked with Christmas decorations, consider this:
"According to our survey, about 40% of Americans will start their holiday shopping this year before Halloween", said Ellen Davis of the National Retail Federation.
That survey from the NRF found the average American expects to spend about $690 on things like decorations, food and, of course, gifts.
That figure is up from last year, but only slightly.
"Most Americans still don't believe the recession is over", says Davis. "They've been very slow at coming back to their old ways of spending."
The Retail Federation asked 8,700 people earlier this month about their spending plans for the Holidays.
"This year, for example, more people will be asking for jewelry which is definitely a discretionary item", says Davis. "Fewer people tell us they will be doing their holiday shopping at discount stores"
The survey even found smartphone owners are about to look a whole lot smarter.
"They're either looking for stores that might have products near them, scanning barcodes to try to find the lowest prices or simply looking at mobile reviews through their smartphones to try and figure out what to buy or where to shop", says Davis.
All of this practices should raise retail sales this Christmas by about 2.5%