Shops and holiday destinations may be quieter this Christmas, with a poll indicating 45% of New Zealanders plan to spend less this festive season.
A Research New Zealand poll asked how a tightening economy, rising prices and a falling real estate market is affecting people.
Some 28% of respondents felt their financial situation was worse than a year ago, and another 11% felt it was a lot worse.
Asked about spending plans, 45% said they planned to spend less and 46% expected to spend about the same this Christmas, while more than 70% have cut back on non-essential spending.
Research New Zealand director Emanuel Kalafatelis says it shows that times are tough for most.
Mr Kalafatelis says retailers and the tourism market are likely to suffer as people feel the pinch.