Discover Poll Shows Major Decrease in Holiday Spending | CreditShout

Discover Poll Shows Major Decrease in Holiday Spending

By Kevin / December 3, 2009

THIS PAGE MAY CONTAIN AFFILIATE LINKS. MEANING WE RECEIVE COMMISSIONS FOR PURCHASES MADE THROUGH THOSE LINKS, AT NO COST TO YOU. PLEASE READ OUR DISCLOSURE FOR MORE INFO.

The Discover U.S. spending monitor is a monthly survey conducted by Discover which tracks consumer spending intentions and confidence. Discover conducts this poll throughout the month by polling 500 consumers daily. This provides a fairly large sample size and a margin of error of around plus or minus one percentage point.

Yesterday Discover released the results of last month’s poll, which are fairly troubling and could be an early indication of weak holiday sales. The majority of people polled were pessimistic about the economy and their own finances, 59% of consumers polled rated the economy as “poor”. Only 26.8% said that they think economic conditions are getting better.

poll1

An astounding 64.7% of people surveyed said that they would be spending less on holiday gifts this year.

holiday_spending

What’s really scary to me however is that 49% of the consumers polled said that their own finances are getting worse. This is up by 3 points since October. You would think with the stock market on the rise (I still think the dow is going to be very close to hitting 11,000 this month) that consumer confidence would be on the rise as well. However perhaps consumer confidence is more closely tied to unemployment rates, which are still in the tank.

You can download the the complete November data here (PDF).

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.Additionally, the opinions of the commenters are not necessarily the opinions of this site

1comment

Leave a comment:


shares