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Conference Board survey finds holiday shoppers in frugal mood
New York City -- U.S. households are expected to spend an average of $497 on gifts this holiday season, The Conference Board reported. Only 7% of consumers said they plan to spend more on holiday gifts this year, while approximately 49% plan on spending less than last year.
The survey of holiday gift spending intentions, based on a probability-design random sample, is conducted for The Conference Board by Nielsen. It was conducted in October.