Gas Cards are a Bright Spot in Dreary Holiday Forecast

More than one-third (35 percent) of U.S. consumers across all income levels expect to spend less this holiday season than they did last year, according to new research from The Nielsen Co. With an economy in turmoil, only 6 percent expect to spend more, while 50 percent of consumers expect to spend the same amount as last year during the holiday season, typically defined as Thanksgiving week through the last week of December.

Nielsen, parent company to Convenience Store News, said its survey of 21,000 U.S. households also showed high income ($100,000 per year and above) consumers are also feeling the pinch. Nearly one-third (32 percent) of affluent shoppers plan to spend less this holiday season. Only 5 percent expect to spend more.

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