Gas prices and other economic issues will have consumers cutting back a bit for the holiday, spending an average of $138.63, compared with $139.14 in 2007, according to a survey conducted by BigResearch for the National Retail Federation.
Total spending is expected to reach $15.8 billion, with the majority of consumers buying one big gift instead of several smaller ones, so jewelry sales are expected to increase this year.
Other gifts in order of popularity: a special dinner or brunch; electronics such as digital cameras, digital photo frames and video cameras; flowers; clothing and accessories; and spa and salon or other personal services.
The majority of gift givers will head to specialty stores, discount and department stores, the survey found. Others will shop online and through catalogs.
Adults age 18 to 24 — many of whom have wives, mothers, grandmothers and sisters — are expected to spend the most, an average of $170.71. The 25-to-34 age group will spend an average of $153.17, followed by 35- to 44-year-olds, who will spend an average of $145.86.
$3 billion on dinners or brunches
$2 billion on flowers
$1.6 billion on gift cards
$1.2 billion on consumer electronics
$672 million on greeting cards
Source: National Retail Federation
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