SCHAUMBURG, Ill. — More than half of consumers plan to spend $500 or less this holiday season, according to Nielsen's fourth annual holiday shopping sales survey.
Polling 25,000 U.S. households, about 52% of respondents reported plans to spend $500 or less. To save money, 40% of consumers reported plans to use coupons, while 20% of consumers already have started shopping.
What's more, Nielsen said, when it comes to spending more this holiday season, affluent households will lead the way with modest increases in spending; although across all income levels, a mere 5% said they plan on spending more this holiday season, versus last year.
Big retail winners this holiday season, Nielsen projected, include online, club, dollar, toy and consumer electronics, as well as the following categories: gift cards, technology, vacations and toys.
“Nielsen expects the vast majority of consumers to be increasingly practical and focused on value this season,” Nielsen VP global consumer insights James Russo said. “More affluent consumers will drive spending, particularly in entertainment, vacations, toys and technology. This is a year to market early. Consumers are planning, creating lists and collecting coupons.”