Cost For Holiday Shopping Up Slightly In 2005

By LINDA BAUER

Published: Nov 18, 2005 12:00 am

ROCKVILLE, MD. â Americans heading to the mall this holiday season are planning to spend slightly more while shopping for friends and family than they did in 2004. According to the annual Holiday Shopping Survey conducted by Myvesta, a nonprofit consumer education organization, the average American plans to spend $747 on their holiday gifts in 2005, up 4.3 percent from the average of $716 in 2004. About half plan to spend $500 or less.

âWhile the average amount people are planning to spend has risen slightly, this may not turn into a banner year for retailers,â said Steve Rhode, president of Myvesta. âIndividuals and families are not much better off than they were last year and most do not have the extra cash available to drastically increase their holiday spending.â

The annual Myvesta Holiday Survey was conducted November 4â6 in a random telephone survey of 1,000 people. Some other survey results include:

People in the South will spend the most on holiday purchases this year averaging $847 per person. Those in the West will spend the least with an average of $660. People in the Northeast plan to spend $720 and those in the Midwest plan to spend $699.

More than 12 percent of those surveyed plan to spend more than $1,000 on their holiday purchases.

Those aged 35 to 44 plan to spend $829 on their holiday purchases, the most of any age group.

Males and females both planned on spending an average of $747.

Those who are married plan to spend almost 56 percent more than single people. Married individuals will spend $848 and singles will spend $545.

To help consumers get the most out of their holiday dollars, Myvesta offers three free self-help publications for download on their website. The publications include How to Survive the Holidays Without Going Broke (or Insane!), Avoiding Post-Holiday Headaches, and How to Cut Your Holiday Bills in Half Without Feeling Like a Scrooge. To access any of the free publications, visit Myvesta.org online.

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Cost For Holiday Shopping Up Slightly In 2005

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