Listen to The Perfect Scam Podcast and Nominate It for a People’s Choice Podcast Award! Find Out More
by Angela Bryant Starke, AARP Bulletin, - December 2, 2008|Comments: 0
The holidays are a favorite time for Zarline Scott, who delights in giving gifts to her six grandchildren. This year, Scott, a retired assistant principal, plans to add something extra to her presents: a lesson in economics.
"I told my youngest granddaughter to pick out three or four things, but expect only one,” says Scott, 73, of Fort Lauderdale, Fla.
Scott will spend less this season due to the housing market crunch: She has been trying to sell a house without success.
According to a National Retail Federation survey conducted in October, consumers age 65 and older plan to spend $827.25 for holiday-related shopping this year—compared with $847.67 in 2007. The predicted drop in 65-plus spending runs counter to the survey’s overall results. Americans will spend an average of $832.36 on holiday-related shopping this year—an increase of less than 2 percent from last year’s $816.70.
And the survey results for people ages 55 to 64 should leave retailers happy. They are expected to spend $50 more this season than last year. BIGresearch, which conducted the NRF survey, says the increase may be because more people in that age group have part-time jobs and collect retirement benefits.
Please leave your comment below.
You must be logged in to leave a comment.
Exclusive savings and benefits with the AARP Auto Insurance Program from The Hartford.
Members earn points on select Walgreens brand health and wellness products.
Members save $65-$200 on round-trip tickets purchased online.
AARP members receive exclusive member benefits & affect social change.
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
Manage your email preferences and tell us which topics interest you so that we can prioritize the information you receive.
Explore all that AARP has to offer.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at