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Holiday buying slows as consumers wait for bargains

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The start was good this year in the US but the shopping spirit appears to have ended quickly. CNBC:

Forty percent of consumers are completely done with their holiday shopping at this point, up from just 28 percent who were finished at the same time last year, according to the America’s Research Group/UBS Christmas Forecast Survey.

What’s more, only half of consumers hit the malls this last weekend, meaning those that are left are sitting on their hands awaiting bigger mark-offs, the survey showed.

“You could push them over the edge at this point with a 60 to 70 percent discount,” said Britt Beemer, CEO of ARG, who has been conducting the phone survey and marketing research for 27 years. “But most would probably use a credit card, as their budgets are depleted.”

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