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Average christmas spending 500 slightly down Original Source Link: (May no longer be active)    http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-11-22T160241Z_01_N22372634_RTRIDST_0_ECONOMY-SPENDING.XML http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-11-22T160241Z_01_N22372634_RTRIDST_0_ECONOMY-SPENDING.XML US holiday gift spending to ease this year-survey Tue Nov 22, 2005 11:03 AM ET NEW YORK, Nov 22 (Reuters) - U.S. holiday gift spending will likely fall slightly this year and stores will have to offer discounts to satisfy shoppers hunting for bargains, according to a survey released on Tuesday. U.S. households are expected to spend an average of $466 on gifts this holiday season, down from last year's estimate of $476, the survey by The Conference Board showed. "Consumers appear to have less Christmas spirit heading into Thanksgiving this year than last year," said Lynn Franco, director of the private research group's Consumer Research Center, in a statement. "This cautious attitude will have consumers shopping for bargains this season -- retailers will need to offer discounts and promotions to get shoppers into their stores," she said. About 34 percent of consumers will buy holiday gifts on the Internet, up from 33 percent a year ago, The Conference Board said. Books top the list of online holiday buying intentions. The top holiday spending region will be New England, where households will spend an average of $568, the survey said. The lowest spending is expected in the hurricane-ravaged East South Central and West South Central regions, where an average outlay of $423 per household is expected. Slightly more than 32 percent of households will spend $500 or more on holiday gifts, while 37 percent will spend between $200 and $500, and the remaining 30 percent are expected to spend less than $200, according to the survey. The survey of holiday gift spending intentions covers a sample of 5,000 households, The Conference Board said.

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