Floridians plan to spend little more than last year this gift-giving season
GAINESVILLE, Fla. — Florida’s retailers are in for a repeat of last year’s dismal holiday season, with consumers expecting to spend about the same amount of money on gifts, a new University of Florida survey finds.
“People are going to be very cautious about spending because of continued uncertainty over the economy, job security and housing values,” said Hyunjoo Oh, research director of the David F. Miller Center for Retailing Education and Research at UF. The survey was conducted by the center and UF’s Bureau of Economic and Business Research and based on telephone interviews with 553 Floridians in October.
Concern over jobs prompted a three-point drop in Florida’s consumer confidence this month, according to another survey by the bureau.
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