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Consumers Say No To More Holiday Spending: Onsite Coverage

WASHINGTON-- CUNA and CFA survey reveals 87% of consumers intend to spend about the same or less than last year.

By Nicholas Ballasy | Updated on November 24, 2014
CUNA CFA Consumer spending surveyWASHINGTON– Consumers are not likely to spend more in the 2014 holiday season compared to the 2013 holiday season, according to a spending survey conducted by CUNA and the Consumer Federation of America.

In the survey, 1,009 adults were interviewed by phone between October 30, 2014 and November 2, 2014. CUNA said the margin of error is plus or minus three points.

“Overall, 87% of consumers tell us that they intend to spend about the same or less than last year – that’s up from 80% who answered similarly in 2013. Last year, we said that based on survey results, we predicated spending would grow somewhere between 3.5 and 4%. The actual increase was 3.4%,” Mike Schenk, CUNA senior economist said. “Our latest survey results suggest that this year’s increase in holiday spending will be very similar to last year’s increase. Therefore, based on the survey, we believe that this year’s holiday spending will increase between 3 and a 3.5%.”

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