Data from the National Retail Federation that Americans will spend less during the holidays this year compared to previous seasons, according to Bloomberg News.
Consumers spent an average of $752.24 in 2013, but are expected to spend only $737.95 this year. Worsening job prospects and fears about future income are driving many shoppers to hold back, says NRF President and CEO Matthew Shay.
“Americans are questioning the stability of our economy, our government and their own finances. It’s evident some could second-guess their spending,” Shay remarked.
To learn more about consumer concerns ahead of the holidays, read the full report here.
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