New York State – The Siena Research Institute released a study Tuesday which suggests that New Yorkers will spend slightly more on their holiday shopping this year.
Thirteen percent plan to spend more on gifts this year, nearly doubling last year’s seven percent. Those cutting back on spending dropped from 21 to 16 percent.
“By no means are New Yorkers planning a holiday spending frenzy, but every indicator is trending upwards,” according to Dr. Don Levy, SRI’s Director. “The percentage of residents holding their holiday budget under $600 has dropped from 61 to 57 percent and those planning to exceed $1000 in shopping cheer increased from 26 to 29 percent. The economy continues to dampen some spirits but even that Bah Humbug has lessened.”
Other statistics of interest from the report:
- 80 percent of New Yorkers will be donating money, food or gifts to charitable organizations
- 39 percent plan to volunteer this holiday season, up from 31 percent in 2011
- 75 percent of New Yorkers say they put up a Christmas tree in their home
- 65 percent of New Yorkers say they try to purchase the majority of their gifts from local businesses
The Siena Research Institute gathered this information through a statewide survey.