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Holiday Spending Plans Plummet, Signaling Dismal Retail Season

Over Half Intend to Spend Less This Year Than Last on Holiday Gifts

Not only do 68 percent say it's likely they'll wait for sales (up from 42 percent in 1990), but 43 percent call it "very" likely -- up from 18 percent in that earlier poll.

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INTERNET -- Finally, elements of the digital divide remain intact: Use of the Internet for holiday shopping remains to a great degree a thing of age, income, and education.

Among adults under age 35, 52 percent say they'll shop online for holiday gifts. That declines steadily across age groups, bottoming out at just 16 percent of seniors. Shopping online also is far more prevalent among higher-income Americans, falling precipitously among those who are less well off. And it peaks among college graduates vs. those who haven't gone beyond high school.

METHODOLOGY -- This ABC News poll was conducted by telephone Nov. 12-16, 2008, among a random national sample of 1,002 adults. The results have a 3-point error margin. Sampling, data collection and tabulation by TNS of Horsham, Pa.

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