Holiday Shopping Spending Flat Compared With Last Year, CNBC Exclusive Holiday Central Survey Reveals

Holiday Shopping Spending Flat Compared With Last Year, CNBC Exclusive Holiday Central Survey Reveals

ENGLEWOOD CLIFFS, N.J., Nov. 27 /PRNewswire/ -- Despite a huge turnout of shoppers on Black Friday and the rest of the Thanksgiving weekend, most Americans will spend less or the same amount they spent last year on gifts, according to CNBC's exclusive Holiday Central Survey. The results of the survey were revealed today on CNBC's "Power Lunch" (Noon-2 PM ET).

Surprisingly, overall falling gas and energy prices had little or no effect on overall expenditures, according to the survey.

And, one of the hottest subjects in the retail industry in recent years has been the controversy of whether merchants should say "Merry Christmas" or "Happy Holidays" in their stores and in their advertising. Most Americans, according to the CNBC Holiday Central Survey said they prefer "Merry Christmas" to the more non-denominational "Happy Holidays." Specifically, 41% of consumers surveyed said they want to hear "Merry Christmas."

Conducted by the same group responsible for the renowned CNBC/Wall Street Journal political polls, the Holiday Central Survey closely tracks consumer trends, on-line sales, specialty stores, big box discounters, and the factors affecting overall spending.

Specifically, 46% of those surveyed said they will spend "about the same amount" they spent on gifts last year and 32% said they plan to spend less than they spent last year. The average amount consumers plan to spend this year on gifts is $764. Only 20% said they plan to spend more than they did last holiday season.

According to the survey, 49% of consumers plan to spend most of their money at big box retailers like Wal-Mart or Best Buy, a 2-to-1 margin over department stores, including Nordstrom and Macys. Only 18% of consumers like the convenience of online shopping and will begin searching for discounts today, "Cyber Monday," as online merchants kick off the online shopping season.

CNBC announced the first results of the Holiday Central Survey today, Monday, November 27th, and will announce additional results in three successive installments until Christmas.

The results of the CNBC Holiday Central Survey will also be broadcast on other NBC News programming, including "Today" and "NBC Nightly News with Brian Williams."

Today also marks a special day of Holiday Central programming on CNBC, with every hour from 5 AM ET with "Worldwide Exchange" and continuing through "Squawk Box" and "Morning Call," "Power Lunch," "Street Signs," "Kudlow & Company" to "On The Money" at 7 PM ET focusing on retail sales in addition to the regular array of instant analysis, debate, and breaking business news headlines.

About CNBC:

CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada. The network's Business Day programming (weekdays from 5:00 a.m.- 7:00 p.m. ET) is produced at CNBC's headquarters in Englewood Cliffs, N.J., and also includes reports from CNBC news bureaus worldwide. Additionally, CNBC viewers can manage their individual investment portfolios and gain additional in-depth information from on-air reports by accessing www.cnbc.com.

Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://nbcumv.com/cnbc/

Contact:
Beth H Goldman
201-735-4724
Beth.Goldman@nbcuni.com

Source: CNBC

CONTACT: Beth H Goldman, +1-201-735-4724, Beth.Goldman@nbcuni.com

Web site: http://www.cnbc.com/

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