laitimes

The survey shows that the holiday consumption plan of the American people is affected by inflation

The World's Large Enterprises Study said on Wednesday that consumers' holiday spending intentions were slightly lower than in 2020, reflecting in part rising prices and supply chain challenges.

According to the organization's survey, on average, consumers intend to spend $648 on gifts this holiday season. Although down from $673 last year, it is still at an all-time high.

Spending on non-gift holiday items such as food, decoration and wrapping paper is expected to reach $374, which may explain the decline in gift spending as consumers shift to more social activities. About 60 percent expect to pay a higher amount for gifts and food this year.

"These consumer intents can be hampered by serious supply chain challenges and shipping issues," said Lynn Franco, senior director of economic indicators at the World's Large Corporate Research Institute, "and if these problems persist, Americans may face shelf out-of-stocks, causing more shoppers to return online and potentially mean they won't be able to receive their purchases in a timely manner." ”

The agency's investigation found that gift card spending is expected to increase the most this year. This may reflect people's attempts to avoid supply chain problems before Christmas.

This article originated from the Financial Circle Network

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