More than 50 percent of New Yorkers will spend over $500 on gifts this holiday season, down from 56 percent last year, a national poll by Siena Research Institute found.
Practicality is a focus for area shoppers this year. Twenty-eight percent of people have budgeted less than $300 for spending; an increase from 23 percent in 2012.
Some 66 percent will be shop online this year, up from 56 percent a year ago. Sixty-four percent of shoppers believe retailers should remain closed on Thanksgiving. Last year 54 percent of customers shared that sentiment.
“As far as holiday spending is concerned, expect a repeat of 2012,” said Director Don Levy. “While we see a little decline in budgets at both the high and low end of the spending ladder, fewer residents today say that they are planning to spend less this year than last but only one in 10 plan to spend more.
“Equal numbers of New Yorkers say that they are better off and worse off economically than they were last year, while nearly half seem to shrug when saying that their finances are unchanged. It all seems to add up to a year of little change on spending.”
Small Business Saturday will draw 38 percent of New York shoppers on Nov. 30. One in five consumers will be in the stores on Black Friday, but greater numbers of customers plan to shop locally during the weekend and participate in cyber Monday shopping.
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