While economic uncertainty is high and consumer confidence is low, many Americans are not letting financial difficulties prevent them from spending as much or more than last year for holiday gifts, a new poll finds.
In a recently released survey that was conducted by accountancy firm Deloitte, nearly 60 percent of respondents said they will cast aside economic worries and not cut back on how much they spend for gifts. Compared to last year, this percentage was slightly lower than 2010 but eight points higher than the firm's 2009 survey.
Alison Paul, vice chairman and U.S. retail and distribution leader for Deloitte, attributed the decline to several economic indicators.
"Lackluster employment growth, debt crises and stock market fluctuations have battered consumer confidence while inflation left many with lighter wallets this fall," said Paul. "Consumers will be conservative this holiday season, but remain resilient and maintain a more positive interest in holiday shopping than we witnessed during the recession."
Consumers with clean credit can help keep their scores strong by keeping their credit card balances low when holiday shopping.