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The Conference Board is out with a report saying that “U.S. households are expected to spend an average of $497 on gifts this holiday season,” and that “only 7 percent of consumers said they plan to spend more on holiday gifts this year, while approximately 40 percent plan on spending less than last year.”

The study goes on: “Consumers will be heading to the malls and online searching for bargains. Four out of ten holiday shoppers say they expect more than half of their purchases to be on sale or discounted. An additional three out of ten expect a quarter to half of their purchases to be discounted.

“Close to two-thirds of consumers expect to purchase a portion of their holiday gifts online, with about 15 percent saying more than half of their gifts will be purchased online.”
KC's View:
Go figure.