Scroogier holiday spending means blue Christmas for communities


As 2009 draws to a close, higher unemployment and lower incomes are translating into a Christmas that will be even leaner than last year's. According to a recent CNN poll, 49% of consumers plan to spend less this holiday than they did in 2008. Another 39% say their spending will remain the same as last year. Only 12% of respondents plan to spend more.

The CNN poll, which surveyed over 1,000 consumers, showed that increasing frugality will also influence the types of gifts that people give. Some 68% of respondents plan to give presents that recipients need, while 27% say their gifts will be playful.