Survey: Shoppers to Cut Holiday Spending—But Not For Their Pets

New York City Shoppers are planning to cut back on their holiday spending this year, but not when it comes to their pets, according to a survey released by Consumer Reports.

Among those who plan to spend less on gifts this year, only 23% are doing so on their pets. The majority (84%) said they plan to cut back spending on themselves.

Another 40% said they plan to scale back on buying for friends and friends' families, and that 59% of shoppers said they plan to cut back on gift giving all together.

One likely reason pets won't be as affected by cutbacks is that their gifts aren't as pricey.

Overall, the report found about three-quarters of people plan to cut back on holiday spending, including travel, gifts and decorations.