consumers loosening purse strings for upcoming holiday shopping season


The OpenX research, based on a Harris Poll survey of more than 2,000 adult shoppers, also shows that many consumers aren’t waiting to start holiday gift shopping.

About half of consumers have either already started buying presents, or will get going between October and the long Thanksgiving holiday weekend in November, which includes big sales-push days Black Friday and Cyber Monday. In fact, 64 percent would prefer to shop when it’s convenient for them, not when retailers want them to, the survey shows.

If you want to avoid overspending on holiday gifts, experts say the best way is to start with a budget instead of a gift list.

“Then allocate a dollar amount to each person you’ll have to shop for,” said Christopher Tracy, president of budgeting app Mvelopes. “That way, you start your shopping in your desired budget range instead of picking out gifts first.”

Source : CNBC