Holiday shopping forecast

October 28, 2010

A just-released Consumer Reports survey finds 28% have already started their holiday shopping.

And while most plan to spend the same or less overall, young adults 18 to 34 plan to spend more.

It looks like clothing will be the most popular gift item. Electronics, especially e-book readers and video games, are also hot. And gift cards will be a big seller, too.

Tod Marks from Consumer Reports says, "62 percent of Americans surveyed told us they plan to give a gift card this holiday season. Now that's substantially higher than the percentage that told us they were going to give a gift card last year. But be warned. Roughly one in four people who got a gift card last year have yet to spend it."

And here's a tip, never throw away a used-up Gift Card. Here's why? If you have to return items, you'll probably need the depleted gift card to get a refund. A lot of people don't realize that.

Also, do make sure you look at your budget before you start holiday shopping. Consumer Reports says more than 13 million Americans are still saddled with debt from last year's holiday shopping.

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