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HK consumers expected to spend less on shopping this holiday season

 Retailers anticipating big sales this holiday season should instead expect "conservative spending", according to a survey released on Wednesday by the Hong Kong Research Association (HKRA) about holiday spending habits of Hong Kong consumers this year.

The survey, which polled 1,077 respondents, found that although just over half those polled planned to keep expenditures level this Christmas, about 17 percent planned to tighten their belts, a slight one per cent increase from the year before.

Average spending by consumers will be below the HKD1,000 (USD129) mark this Christmas, with about one quarter of respondents setting their budget within the range of HKD500 to HKD1,000 and 21 percent planning to spend no more than HKD500. The number of consumers planning to "not spend at all" rose 2 percent year on year to 17 percent.

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