- Mark Dolliver

Numerous holiday-shopping forecasts have been telling us that consumers in general will be tightfisted this year. But can we count on the generosity of older folks -- many of whom are grandparents -- to take up some of the gift-giving slack? Alas, an AARP Bulletin survey among people age 50 and older suggests otherwise as it predicts the recession "will be felt by grandchildren across America this holiday season."

Thirty-four percent of the 50-plusers surveyed said they expect to spend less on holiday gifts this year than they did in 2008, vs. just 5 percent expecting to spend more. Forty-four percent plan to spend less than $300, including 18 percent who'll lay out less than $100. Twenty-four percent said they plan to spend at least $500 on gifts. Six percent don't plan to give gifts at all this year.

The poll's 50-64-year-olds were more likely than those 65-plus to say they expect to spend more than $300, 48 percent vs. 33 percent. And they were less likely to say they'll give no gifts at all (3 percent vs. 11 percent).

Released this month and based on polling in late September and early October, the report also took a look at specific ways in which those who plan to reduce their spending (but still buy something) will do so. "Buy fewer gifts" was the foremost method, cited by 49 percent of respondents -- 56 percent of the 50-64-year-olds and 35 percent of the 65-plusers. Twenty-four percent said they'd "buy only sale items," 18 percent "do more comparison shopping," 12 percent "make more homemade gifts" and 10 percent "use coupons."

Sixty-nine percent of respondents said they'd buy most of their holiday gifts "at stores, malls, etc." Eight percent said they'd do most of their gift buying online, with the figure rising to 11 percent among the poll's 50-64-year-olds (and falling to 2 percent among the 65-plusers). Another 8 percent said they'd mostly buy via catalogs.

Among respondents who say they'll spend less this year, what will they do with the money that doesn't go for gifts? Predictably, a majority said they'd use it either to "pay bills" (48 percent) or "pay down debt" (13 percent). Another 15 percent will use the money to "save for retirement," while 10 percent will "put it in an emergency fund."

See also:

"A Holiday Shopping Rebound -- Sort Of"

"Wishing for a Deeply Discounted Xmas"

"When Should Xmas-Shopping Ads Begin?"