Georgians plan a frugal holiday shopping season

Forget about those holiday shopping spending sprees. Georgians are planning for a not-so-merry Christmas.

A new poll from the Georgia Credit Union Affiliates found that just 3.3 percent of Georgians plan to spend more on gifts during this season’s holidays than they did a year ago, with the rest expecting to spend the same amount or less.

Grace Lollar, president and CEO of Richmond Community Federal Credit Union in Gracewood, explained, “Wages have not risen for most of our membership, but the cost of living has gone up. Most of our members rely heavily on holiday loans to pay for their purchases.”

Here are some of the survey’s findings:

– 70.1 percent of respondents plan to use cash this holiday season.

– 12.4 percent plan to pay for most of their purchases with a credit card (down from 15.9 percent last year).

– 57.5 percent say they will spend $500 or less during the holidays.

– 48.2 percent plan to spend about what they did last year.

– 48.5 percent plan to spend less than they did last year.

Nationwide, retail sales are expected to increase 4.1 percent, according to the National Retail Federation, less than the 5.6 percent bump in 2011.

2 comments Add your comment

[...] air is getting cooler and storefronts are beginning to display Thanksgiving and Christmas decor … which means another year is almost over. The time has come to reflect on what worked for your [...]

A. S. Mathew

November 6th, 2012
8:39 am

More than five years back, the U.S. department stores and shopping malls took a terrible policy of portraying the Christmas time, not as the celebration of the birth of JESUS CHRIST, but as a season’s
holiday. They were afraid of offending other religious people to put ” MERRY CHRISTMAS’ but simply displayed ” Season’s greetings”. How that season came? IT IS THE BIRTH OF JESUS CHRIST. The Christmas is celebrated even in the Hindu and Muslim countries with greater joy and participated by all religious people, indeed as the greatest celebration. But, the U.S. began to adopt a policy of disregarding the birth of the SAVIOUR of mankind like a joke, and the season was exclusively used to make money by the business community. The consumers are not spree spenders any more, and the Christmas season will pass in front of us like without much excitement. Until we all truly realize that our material blessings were all came from by the mercy of GOD, we are heading towards more economic crisis ahead of us.