Holiday Sales Could Benefit from a New Round of Stimulus Checks, But …
The good news is that recent findings from the new Franklin Templeton-Gallup Economics of Recovery Study indicate that holiday sales could be strengthened by a new round of federal stimulus checks before the end of the year.
The bad news is that’s probably not going to happen because Republicans and Democrats just can’t seem to agree on anything regarding a stimulus.
The study found that 37% of Americans say they are more likely to spend less rather than more (16%) this holiday season than last year if there is no additional government stimulus payment. But when the same people were told they would each receive a $1,200 stimulus payment, the percentage of those saying they are more likely to spend less dropped to 30% with the percentage of people saying they would spend more rising to 22%.
The study’s results are based on 5,002 web-based surveys completed Oct. 1-9. The study also found that more Americans plan to scale back than to increase their holiday spending this year if there’s a stimulus check or not. A separate Gallup poll found that Americans say they will spend almost $150 less this year on gifts than they did in 2019.