Survey Shows Australian Consumers are Bound to Spend Less for This Year’s Christmas

Christmas 2009 may not be the happiest Christmas for Australian retailers after they learned that Australian consumers will settle for a smaller budget for the holidays. A recent survey conducted by the Melbourne Institute and Westpac Bank showed on Monday that 35% of the respondents are categorized as expected to spend less on Christmas presents this year than the previous year. 50%, on the other hand, are expected to spend just about the same as they spend their Christmas last year, while only over 14% said they plan to spend a little more. Digging into more details in the survey,