High-Income Shoppers to Boost Holiday Spending 6% This Year
- Less affluent shoppers, meanwhile, will trim gift purchases
- PwC forecasts half of holiday purchases to be made online
A pedestrian holds a Tiffany & Co. shopping bag in New York, U.S., on Sunday, Nov. 22, 2015. Tiffany & Co. is scheduled to report earnings figures on November 24.
Photographer: John Taggart/BloombergThis article is for subscribers only.
High-income shoppers will fuel holiday spending in the U.S. this year, even as less affluent consumers keep their purse strings tight.
That’s the finding of a survey released Tuesday by PricewaterhouseCoopers LLP. The firm expects Americans overall to increase spending by 6 percent this season, but those with household incomes below $60,000 will cut their outlays for both gifts and entertainment as they deal with stagnant wages.