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Mall Study Boosts Holidays

SANTA MONICA, CA-According to the Macerich Co.'s holiday shopping survey, consumers will spend 6.3% more than last year.

By Dana Dubriwny | Updated on November 21, 2005

SANTA MONICA, CA-According to a study released by the Macerich Co. entitled “Shopping in America Holiday 2005,” US consumers plan to spend $655 on holiday gifts and an additional $316 for parties, decorations and other seasonal purchases, representing an increase of 6.3% from last year.

“Although gas prices may have some impact on holiday sales, shoppers are still planning to spend slightly more than last year,” says Garry Butcher, vice president of marketing and consumer research for the Macerich Co.

The study predicts that shopping malls will be the most popular seasonal shopping destination, with nearly 64% of the 3,700 consumers surveyed planning to shop at mall department stores or specialty shop retailers. And despite higher gas prices, the study reveals that 42% of American shoppers will travel at least 50 miles from home during the 2005 holiday season.

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