Lifestyle Magazine

Consumers Plan to Rein in Spending This Holiday Season

By Raymondleejewelers @raymondleejwlrs

Recent reports have the economy looking up as far as holiday spending is concerned. We wrote earlier about the cautious optimism of some retailers.

However, National Jeweler is now reporting that, according to a survey conducted by Accenture, 72% of consumers plan to be “controlled” whilst holiday shopping this season. Additionally, the study found that “88% plan to spend the same amount or less” than they did last year.

Participants stated that their reason for reined-in spending stems from “less discretionary income (43%), a rise in living expenses “37%), and less savings.”

Not surprisingly, those who responded that they plan to spend more gave the same reasons for determining the holiday shopping budget; however, they also cited higher prices and “treat[ing] themselves after a tough year as other motivating factors.

Perhaps the hopeful confidence that retailers will see bigger business this holiday season is more a result of “high-income shoppers” – those who earn over $100,000 a year. Of this sample, 71% anticipate spending over $500 on gifts.

To read more about the survey’s results, click here to visit National Jewelers website.

When shopping this holiday season, whether you plan to tighten your belt or celebrate the season with a larger budget than you did last year, good value is ultimately important.

Raymond Lee Jewelers offers competitive prices for buying pre-owned jewelry and gold, and sells designer jewelry and luxury watches for less than their current retail price. If something sparkly is on your holiday shopping list, our financing, layaway, and competitive prices make it easy to shop here, regardless of your budget.

Liz for Raymond Lee Jewelers, South Florida’s choice for luxury brands like Rolex, Cartier, Patek Phillipe, Tiffany & Co., Audemars and Hublot.

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