Does bad news for retailers mean good news for Charities this Holiday Season?

Despite early projections of a robust holiday season for U.S. retailers, according to a new U.S.- Canada study, more Americans, almost 7 out of 10 (69 percent), say they’ll spend less on holiday presents this year as a result of the current economic climate.

Americans are more likely than their Canadian counterparts to say that, as a result of the economic climate, they will spend less money on holiday gifts (69% vs. 61%) and are now more likely to give charitable gifts as holiday presents (51% vs. 42%).