How Much Are You Spending On Holiday Gifts?Posted: Updated:
The amount you spend on holiday shopping isn't changing much this year. That's according to a study from Siena College Research Institute, which shows that 61 percent of New Yorkers plan to spend about the same this year on holiday gifts.
"We're not here to predict that it will be a 'banner year.' Every indicator in our survey does say that the holiday spending will be a little bit greater than...a little bit more robust than it was a year ago," said Siena College Research Institute Director Don Levy.
Other research from the study says half of New Yorkers plan to hold their gift spending under $500, while about a quarter have budgeted $1,000 or more. In addition, 70 percent of New Yorkers plan to do at least some of their shopping online this year.
At Herb Philipson's, shoppers will tell you they like to get their shopping done with plenty of time in advance. And, they like to come in the store rather than online.
"Well, you can look around more. There's things that might not be online that you're looking for, if you're looking for a specialty item," said Mariann Lucas, shopper.
Patsy Deane-Landers has already done most of her holiday shopping, and prefers to come to the stores as well.
"I think it's quicker and if something comes and it's broken and you have to send it back, I don't like to be bothered with that," she said.
Another note from the study: 58 percent of New Yorkers plan to have an artificial tree compared to a real one.