Consumers spending less on holiday travel, gifts — ChainStoreAge.com

Inflation is causing many consumers to cut back on their holiday spending:

“More than four-in-10 (43%) of those surveyed said they planned to spend less on luxury purchases like jewelry, clothes and spa purchases this holiday season. Three-in-10 (30%) reported plans to cut back on their restaurants and dining spend. Another 30% of people say they will still spend more on everyday necessities like food and personal care items this holiday season.“

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