25% of young adults spent more on holiday shopping in 2007 than in 2006

31% of US consumers are expecting to spend more in January 2008, a 20-point drop from what consumers expected to spend in December 2007, but consistent with average numbers reported in the months preceding the holiday shopping season. The number of consumers expecting to spend less in January 2008 jumped to 24%, compared to just 11% in December 2007, Discover reports. Younger adults, ages 18-39, were more aggressive with their holiday spending, as nearly 25% said they expected to spend more on gifts than they did in 2007 compared to just 14% of those ages 40-64 and 12% of those 65 and older.