"The top holiday spenders will be New Jersey, New York, Pennsylvania. Lowest holiday spending will be in Washington, Oregon, California, Alaska, Hawaii"

The Conference Board's most recent consumer survey contradicts other recent studies that predict a weak Holiday season (see story). According the The Conference Board survey of 5,000 households completed this month, U.S. households are expected to spend an average of $476 on gifts during the holiday season, up from last year's estimate of $455. This could translate into a 4.5 percent lift in retail sales compared with last year. The survey was conducted for The Conference Board in by TNS NFO.

"Consumers appear to have more holiday cheer heading into Thanksgiving this year than last year," says Lynn Franco, Director of The Conference Board's Consumer Research Center. "This upbeat attitude should translate into a more favorable holiday season for retailers."

The top holiday spenders will be Middle Atlantic households (New Jersey, New York, Pennsylvania) who intend to spend $550. Lowest holiday spending will be in the Pacific (Washington, Oregon, California, Alaska, Hawaii), where households expect to spend $400.

About 33 percent of all households will spend $500 or more on holiday gifts, with 37 percent spending $200-$500 and the remaining 30 percent planning to spend less than $200.

A Slight Rise in Online Buying This Holiday Season
About 29 percent of all consumers will buy holiday gifts on the Internet, up from 28 percent a year ago. Books top the list of online holiday buying, with nearly 41 percent saying they will buy books as gifts. Clothing and shoes rank next as online holiday buying choices, followed closely by toys and music CDs.

About 28 percent said they purchased holiday gifts last year on the Internet and 93 percent said they were satisfied with their online buying experience.

Other key findings in The Conference Board survey:

Households headed by individuals aged 35-44 and 45-54 intend to spend the most this year, with $509 the average expenditure.

Households headed by those aged 65 and over represent the third largest spending group. For them, average expenditures are expected to reach $469.

Households whose incomes top $50,000 intend to spend $661 for holiday gifts.