Consumers Loosening Purse Strings For Holiday Shopping Season

With the economy strong and consumer confidence at an 18-year high, many households plan to boost their holiday spending.

About a quarter of consumers plan to spend more on gifts than they did last year, while 56 percent expect to spend about the same, according to new research from OpenX, an advertising technology company based in Pasadena, California.

Millennials are leading the spending charge, with 41 percent saying they’ll spend more than last year. The average amount that consumers across all age groups expect to spend is $819, while the average for millennials is $861.    MORE

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