Buy like it's 2007: shoppers plan on spending more than past 5 years

For the first time since the recession, shoppers plan on spending up to $854 this holiday season, which is almost equal to the $859 average spent in 2007, according to a study by The American Research Group.

Despite the threat of a possible 'fiscal cliff,' spending is up 32 percent from 2011, showing increased consumer confidence, according to an article by Independent Retailer.

Along with the expected increase of spending, shoppers do say they plan to wait for sales. This year, 54 percent of those surveyed said they would wait for sale prices. In 2011, 53 percent said they would. This is a dramatic increase from 2006 when 33 percent said they would wait for sales.

Mitchell Harper, CEO of Bigcommerce, said to Independent Retailer that he thinks part of the increase has to do with small businesses online exploring new marketing territories.

“Shoppers want to be helped, not marketed to, and small- and medium-sized businesses understand that," Harper said. "They are some of the most genuine social media users, leveraging channels like Facebook, Twitter and Pinterest to extend their reach to potential customers beyond traditional sales channels.”

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