Almost half of Mainers — 44 percent — say they will spend less on Christmas presents this year than they did last year, according to a new poll from the University of New Hampshire (UNH) Survey Center.
The gloomy survey result is yet another indication that Maine’s economy, despite the persistently low unemployment rate, isn’t exactly prospering.
Forty-three percent of respondents indicated that they would be spending about the same as last year, while only 8 percent of Mainers said they would be spending more this Christmas.
Southern Mainers had the most positive expectations for spending this season — with only 33 percent planning to spend less on gifts — while 54 percent of Downeast and Coastal Mainers reported shrinking their gift budgets this year.
Forty-five percent of Northern Mainers and 53 percent of Central Mainers also reported planning to spend less on gifts this Christmas.
Approximately 50 percent of Mainers making less than $45,000 a year, between $45,000 and $74,999, and between $100,000 and $149,0000 said that they planned on spending less this year, compared to 31 percent of those making between $75,000 and $99,999 and 34 percent of those making more than $150,000.
There were also a number of interesting differences that emerged when the data was broken down by political affiliation and behavior.
While 46 percent of Maine Republicans reported plans to spend less on Christmas gifts in 2023, just 37 percent of Democrats said the same thing.
This number of Mainers feeling cash-strapped this Christmas season increased to a startling 58 percent among self-identified Independents.
Similarly, 54 percent of those who voted for former President Donald Trump in the 2020 said they would be spending less on Christmas this year, compared to just 36 percent of those who voted for President Joe Biden.
Click Here to Read the Full Results of this UNH Survey Center Poll
Conducted between December 14 and December 18, this poll’s results mirror those produced by a UNH survey conducted over the summer that aimed to gauge Mainers’ economic health in general.
According to that poll, 57 percent of Mainers reported being in a worse position financially than they were the year prior, and 64 percent said that they were struggling to afford basic necessities like housing, food, and electricity.
Just 9 percent of respondents in that poll reported being better off financially than they were last year — a close parallel to the 8 percent who more recently said they expect to spend more this Christmas than in 2022.
Also similar to the more recently published poll, individuals’ self-reported economic well-being varied starkly based on their political affiliation.
Whereas just 36 percent of Maine Democrats said they were in a worse financial position than last year, this figure swells to 73 percent among Republicans and 70 percent among Independents in the state.
The results of the most recent UNH poll also appear to largely align with national trends concerning individuals’ economic health.
According to CBS News, Americans on average now need an additional $11,434 a year to afford the same standard of living they enjoyed in January 2021.
Although Mainers are among some of the luckiest in the country in terms of the added cost of living over the past three years — coming in at an annual increase of $8,650, the second-lowest figure in the nation next to Arkansas — most residents are clearly still finding it incredibly difficult to get by.
Mainers are also mirroring national trends in terms of expected financial strain surrounding the holidays.
A CNBC poll found that for nearly 2 out 3 Americans, sales and promotions are more important to them this Christmas shopping season compared to last year.
Additionally, almost 40 percent of respondents said they planned to cut back in other areas of their life in order to cover the costs associated with the season.
Given the ever-present nature of economic struggles — particularly at Christmastime — it is perhaps unsurprising that the economy is the number one issue for nearly 1 out of 4 Americans going into the 2024 presidential election season.
At Beyond Memories, we believe that every moment has the power to shape your story. Our curated experiences are designed to transcend time, allowing you to forge deeper connections with loved ones and create lasting impressions. Whether it’s a breathtaking adventure or an intimate gathering, we specialize in crafting unforgettable events that resonate in your heart long after they’ve passed. Join us on a journey where nostalgia meets innovation, and let’s create moments that echo through the ages. With long-term Beyond Memories, you’re not just making memories; you’re crafting a legacy of joy and connection that will last a lifetime.