ESTERO, Fla. — Black Friday is around the corner and a new report says people may not spend a lot this year.
People were bustling at the Miromar Outlets on Wednesday already starting their holiday shopping.
"I went to Abercrombie and I think GAP," one shopper said.
"Shirts, slippers and a Coach bag," is what she told Fox 4 Senior Reporter Kaitlin she bought.
WATCH BELOW TO SEE WHY PEOPLE MIGHT SPEND LESS:
Chip Lupo, a writer and analyst for WalletHub, says 31% of people surveyed plan to spend less this holiday season. 68% says it's because of inflation.
"A lot of people are enticed by Black Friday deals," he said.
Knapp asked people at the outlets if they're going to spend less due to higher prices.
"I will be spending a lot less this coming holiday season," one shopper said.
"Not really for me," another explained.
"We usually have a big Christmas and we all exchange lots of gifts," a shopper said. "This year we decided no gifts. Just stocking stuffers — that kind of thing."
Lupo says WalletHub reports 47% of people still have debt form last year's holiday shopping.
"They probably did spend more money than anticipated," he said.
So what can you do to avoid going into the red? Just like Santa, make a list and check it twice.
"Create a list separate from your household budget; stick to it," Lupo explained. "Avoid the impulse buying."
Lupo says to avoid overspending, stay away from the deferred interest offers.
You could go with some non-traditional gifts like a homemade gift, a note or even an experience, which he says is becoming a more popular gift.
"Memories last forever," Lupo said. "A sweater will be forgotten a year or two from now."
No matter what you decide, remember it's truly the thought that counts.
"I think the holiday season, kicking of this week — grateful," a shopper said. "I'm grateful to be here, in good health, to have family and friends around us."
