Check out the middle class pulling back on holiday shopping.
 
Middle income shoppers are planning the biggest cutbacks by far this holiday season, according to a survey by TNS Retail Forward.
 
Middle market shoppers, the middle 50 percent of the income spectrum, plan to decrease their holiday spending vs. November 2006 by 6 percent, the survey, conducted the last week of November, said.
 
Lower income, or “down market” shoppers plan to cut back by 1 percent to an average of $296 this year, while higher income, or “up market,” shoppers plan to decrease spending 2 percent to $930 on average, the survey said.
 
What aren’t people buying? Clothing, toys, books and music/DVDs all show significant declines among the categories that shoppers plan to buy this year compared with last year. 
 
Oh, and this year gift cards are the most popular type of gifts that shoppers plan to purchase, moving ahead of apparel, TNS Retail Forward said.
 
Restaurants/coffee shop gift cards are the most popular,  followed by discount store/supercenter and value department store gift cards. 
 
Also in the basket:
 
Kellwood Q3 ongoing profit falls
 
UK fines dairies, supermarkets for price fixing
 
Target.com says shoppers delaying Web purchases
 
Holiday beauty sales off to strong start (Women’s Wear Daily, subscription required)

(Photo: Reuters)