How much will you spend on holiday gifts this year?

Consumers say they expect to spend a bit more on holiday gifts this year than last, but many major retailers aren’t as confident that sales will rise.

According to The Conference Board, U.S. households plan to spend an average of $576 on Christmas and other holiday gifts this year, up slightly from $538 last year.

The survey released Thursday said 11 percent of consumers are likely to spend more this year than a year ago, but 27 percent said they plan to spend less. The bulk — about two-thirds — expect to spend about the same amount.

Consumer spending plans for the important fourth-quarter retail season haven’t buoyed investor confidence in retail stocks. Macy’s, Kohl’s and Saks Fifth Avenue have each seen share prices slip lower.

Macy’s drop, reported Wednesday, was 14 percent, causing CEO Terry Lundgren to express disappointment in a conference call.

“We believe the retail industry is going through a tough period,” he said.

Lynn Franco, director of economic indicators at The Conference Board, said sales should be pushed upward by continued job growth, lower gas prices and stronger consumer confidence in the overall U.S. economy.

But Franco added: “Consumers are still unwilling to pay full price for gifts. The majority say they will be on the lookout for bargains and incentives.”

T.J. Maxx, Ross Stores and some other off-price retailers are expected to do better than higher-priced department stores.

Doubts about the performance of in-store sales also are fueled by consumers switching to e-commerce. There’s a strong trend toward price shopping and online purchases, some of which are offered with free shipping for the holidays.

This story was originally published November 12, 2015 at 11:41 AM with the headline "How much will you spend on holiday gifts this year?."