58% of Americans Not Cutting Back on Holiday Spending This Year, New Survey Reveals

/PRNewswire/ -- While most Americans have been directly affected by the sharp decline in the nation's economy, a majority still feel a sense of obligation, both to their family and the country, to maintain holiday gift giving and celebrations, according to a survey of 1,762 adults.

More than 54% of survey respondents know someone who has become unemployed in the past 6 months. However, 58% report they expect to spend the same amount this year on the holidays as they did last year, according to the survey, which was sponsored by Dollar Savvy, a new magazine and website (www.getdollarsavvy.com) dedicated to providing Americans with effective money-saving ideas.

Respondents are aware of the connection between their holiday shopping plans and the economy:

-- Over half (51%) say they have a responsibility to keep shopping to
help the economy.
-- 57% of respondents say regardless of the nation's economic reality,
they have an obligation to provide their families with a wonderful
holiday season.
-- 20% of respondents acknowledged they are dipping into savings to pay
for holiday celebrations.

Survey respondents expressed a sense of optimism about the future, and noted that the economic downturn is helping readjust priorities in a positive way. Among the findings:

-- 61% say the holidays will be more joyful this year.
-- 78% said hard economic times remind them of what is really important.
-- 73% said America will be stronger once we solve our economic problems.
-- 90% percent say the holidays are about family and faith, not gifts and
meals.

When it comes to gift-giving, Americans will continue to give store-bought gifts, but 20% said they plan on giving more homemade gifts this year. In keeping with their perspective on the economy, 53% said they expect the number of gifts they receive this year to be less than last year; 41% said they expect it to be about the same.

Additional holiday spending results:

Amount Spent
-- 9% plan on spending more
-- 46% plan to spend the same amount on gifts as last year
-- 43% plan on spending less
-- The average amount expect to spend is $553

Gifts to Children
-- 56% plan on giving the same number of gifts to children as they have
in the past.
-- 22% plan to give less
-- 13% plan to give more
-- 8% don't know

Gifts to Spouse
-- 52% plan on giving the same number of gifts to their spouse
-- 27% plan on giving less
-- 7% plan on giving more
-- 14% don't know

Gifts to Friends
-- 51% plan on giving the same number of gifts to friends
-- 37% plan on giving less
-- 3% plan on giving more
-- 8% don't know

"Despite economic hard times, Americans continue to have a deep, heartfelt connection with the holiday season," said Neil Wertheimer, Editor in Chief of Dollar Savvy and getdollarsavvy.com. "While they believe that the gifts will be fewer this year, and the meals a little less extravagant, the joys of the holidays will be every bit as great, if not greater, than in years past."

Other survey results included:

-- 61% of respondents said they will be sending store-bought holiday
greeting cards this year; 31% are planning to send e-mail cards; and
12% are sending homemade cards. 13% of respondents say they will be
including a family-update letter.
-- 42% said they will spend less this year on decorating their home for
the holidays; only 6% said they will spend more than last year.
-- 25% said they will spend less on holiday food this year; 15% said they
will spend more.
-- 27% said they will give less money to charity this year; 11% said they
will give more.
-- 48% say that ham will be the main course at their holiday dinner,
followed by turkey (43%), and beef (16%). Only 6% said they will be
serving seafood, and 1% said they will be serving lamb.
-- 38% said they will be dining at restaurants less during the holiday
season.
-- 11% said they would be dining out more.
-- 41% said they will be traveling less during the holiday season.
-- 14% said they would be traveling more.

About the survey

The survey was conducted on December 9 and 10 by Socratic Technologies, a full-service marketing research agency that regularly conducts global Web-based surveys. The respondents were a cross section of women and men who subscribe to one of five broad-interest consumer magazines operated by the Home & Garden Group of the Reader's Digest Association Inc. Survey respondents had a median age of 52 and median household income of $75,400. The survey had a 2.3 percent margin of error.

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American Women Confident in the Face of Economic Gloom

RJ Note: Yep, its tough. Yep, we are spending less. Yep, we are confident. Yep, we are women! We've come a long way---

/PRNewswire/ -- Women are spending less on microwaves, gifts, hobbies, gourmet coffees, video games, and even organic foods than they did just two months ago. And with the holidays approaching, they are about to get stingier still. But despite this stark outlook, fully 95 percent of all American women feel they will "make it" through the recession and 64 percent feel 2009 will find them financially "better off." These are among the findings of a recent study conducted for Fleishman-Hillard International Communications by the Harrison Group.

In "Women, Power & Money - The Shift to the Female-Driven Economy," a survey of more than 1,600 women conducted initially in early September and again in early November 2008, women acknowledged being financially worse off than they were a year ago, but felt sure they would be able to manage. The study is a large-scale, nationally representative survey that codifies the power of women in the marketplace.

In the September study, 79 percent of women stated that their opinion determines family financial decisions, while 91 percent claim to be the manager of their family's quality of life. More than half pay the family bills and about half are the shared or primary breadwinners.

"It's clear from this research that we are now living in a 'mom-ocracy' -- women are setting the agenda," said Nancy Seliger, president, U.S. East region, at Fleishman-Hillard, the global communications firm that commissioned the study. "We believe the most successful marketers will address concerns of the spouse, the children, and even friends of women. When these individuals are well informed, it is easier for women to build consensus within their families."

"These women hold the consumer economy in their hands," said Jim Taylor, Ph.D., vice chairman of the Harrison Group, a marketing and research consulting firm. "Their decisions over the next year will determine the economic health of the country."

The study also examined how women make decisions. For instance, women rank both "articles in magazines and newspapers" and "expert recommendations" as more influential than advertising. Moreover, even as the contemporary American woman controls a greater share than ever of household spending, she leads more by consensus than by decree.

Regarding the near-term economy, the study revealed much more about American women:

-- 79 percent plan to cut back on gift-giving this holiday season
-- 56 percent are spending less than last year eating out
-- 51 percent are spending less than last year on toys and games
-- 49 percent are spending less in November than in September on
entertainment
-- 50 percent are spending less in November than in September on shoes,
handbags, and accessories
-- 86 percent are delaying purchases until items go on sale

"Retailers may look at these numbers and cringe," said Seliger. "But family level cost controls give women confidence they will be able to manage through these tough times."

Women in the study acknowledged there will be some stress in charting their courses over the coming months, but they have strategies in place to cope with that as well. The majority plan to spend more time with friends and family, exercise and eat healthier.

The margin for error in the master survey is plus or minus 2 percent, and in the November survey the margin of error is plus or minus 4 percent.

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James Brown Memory

A few years back a group of us were in Augusta for a convention. One night we hit a local bar and restaurant on the river for dinner. We hadn't been there long before James Brown and his entourage dropped in. We didn't know it was one of the places he liked to frequent, but we soon learned he was somewhat of a regular.

It was interesting talking with him for a few minutes. If I hadn't been at the right time at the right place that little tiny exchange wouldn't have happened. Can't tell you the name of the restaurant 'cause I don't remember, can't tell you what I said to him 'cause it was no more than typical surface talk that you have with someone you don't know.

What is interesting is how when paths cross, no matter how lightly, some sort of connection is formed. I payed attention to new articles and was saddened to hear of his death. He was so alive it was hard to imagine a world without him.

Now I find that I click on stories about all the hoopla that continues to occur after his death.

Five of his children are contesting his will. It's a family brawl that I imagine will leave scars that will never heal.

Money has a way of tearing people apart. Brothers and sisters who have shared their closest confidences become bitter enemies when a parent dies and things have to be split.

Brown left a large portion of his estate to charity. Commendable. He also took care of his grandkids. Again, commendable. I would assume he felt his older children were capable of standing on their own two feet, taking care of themselves. Obviously, they disagree.

While he definitely didn't lead a perfect life by any stretch of the imagination, most of us will remember Brown for his antics, his enthusiasm, his music. I think it's time for me to stop reading articles about James Brown and let the memories of his music be what I think about when I hear his name.