Pressured Consumers Plan Less Spending for Holidays
More than 77.4 percent of American consumers feel pressured from the debt this holiday season, according to a Consumer Mind Reader survey released today by America's Research Group and UBS.
Of those, 65.3 percent say they will spend less this Christmas making a gloomy prospect for retailers.
"Job fears are at the highest level we have seen at ARG in 30 years of talking with consumers,” said Britt Beemer, chief executive officer and founder of ARG. “Americans have no choice but to buy less today."