A survey conducted by the American Research Group last month indicated that people would be spending less this Christmas season on gifts than last year. Those surveyed indicated that they would be spending $417 on Christmas gifts this year down from $431 last year. Interestingly, the total spent ten years ago was $939 and in 2004, it was $1,004! So spending is now over fifty percent less than just five years ago!
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(Source: http://americanresearchgroup.com/)