Holiday spending: wealthy consumers and teens spending, others pinching pennies

[mandy]

Rising fuel and food costs will cut into holiday gift purchases by the less affluent, while wealthier consumers and teens plan to spend freely during the holiday season, according to the survey by market research firm Harrison Group...

“For budget-strapped middle-income families, this will be less an ‘iPod holiday season’ and more an ‘iNeed holiday,” says Jim Taylor, vice chairman of Harrison Group. “Consumers at the high end of the market appear to be unaffected by economic uncertainty and will spend with gusto.”

Teen shopping, Taylor says, will be driven by continued income growth among that demographic...

full article: http://www.internetretailer.com/dailyNews.asp?id=24674