Despite the recession, New Yorkers’ spending habits this holiday season will remain the same from last year, a new poll shows.
Less than 10 percent of New Yorkers say they will spend more than they did last year's holiday season, according to the Siena poll relesed Tuesday. The rest said they would either spend less or about the same with slightly more planning to spend less.
“We are, as a state, treading water in a choppy financial sea,” Siena Research Institute director Dr. Don Levy said. “It appears that retailers need to expect a repeat of last year’s spending as bargain hunters hope to keep the ship afloat and to hold spending at last year’s level.”
Even though shopping will remain about the same, fewer people are saying they are in a grim financial situation.
“But let’s face it, almost no one is whistling their way to the mall,” Levy said. “We are, as a state, treading water in a choppy financial sea.”
About 65 percent of shoppers plan to spend under $600, up just four percentage points from last year. Last year, 28 percent said they were planning to spend less than $300, a figure that has increased by 2 percentage points.
“It appears that retailers need to expect a repeat of last year’s spending as bargain hunters hope to keep the ship afloat and to hold spending at last year’s level,” Levy said.
Aside from the financial worries, most New Yorkers are excited about the holidays.
“And across every demographic, about 70 percent of state residents most enjoy spending time with family and friends during this time of the year,” Levy said. “Despite all the economic difficulties this year, by over two to one, New Yorkers feel more like Santa than like Scrooge.”