With the holiday season quickly approaching, consumers are holding onto their budgets tightly, according to Valpak’s Semi-Annual Consumer Spending Report. The report revealed 20 percent of consumers are spending less this year than last and are becoming more creative when it comes to finding deals.
Valpak, the 44-year direct and digital savings leader, conducted the report in an effort to understand how consumer spending has evolved since last year’s “post-recession” economy. Shoppers are planning to start their holiday spending earlier this year with 40 percent of consumers beginning their shopping before, and during, the month of October, including searching throughout the year. Eighty four percent of shoppers will spend the same or less on holiday-related purchases, with more than half (53 percent) planning to use coupons for gifts, entertaining, travel, and food/catering. [Read more...]