The results of a survey released Monday showed that more consumers anticipate spending less during the holidays this year.
In its 16th annual consumer survey, the Consumer Federation of America and CUNA reported 38% of respondents said they will reduce the amount of their holiday spending, an uptick from the 33% reported in 2014.
During a press conference held to discuss the survey, CUNA Chief Economist Bill Hampel said people are more inclined to say they will spend less, but only during the financial crisis did holiday spending amounts actually decline. "Spending never declines," he said of the numbers.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
