Citi Survey Says One-Third of Women Will Spend Over... - Other News

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Credit Card Applications » News » Other » Citi Survey Says One-Third of Women Will Spend Over $1K this Holiday Season

Citi Survey Says One-Third of Women Will Spend Over $1K this Holiday Season

This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the Citi.

A holiday shopping survey from Citi’s Women & Co. division and women’s lifestyle magazine Real Simple reveals that the majority of women surveyed plan to spend $500 or more during the holiday season this year.  One out of three said they would spend over $1,000 on gifts, decorations, food, travel, and other holiday-related expenses.

The survey asked 750 women across the nation about their anticipated spending this season.  Most were trying to cut back spending in one area or another, but 60% of respondents said they have no regrets about holiday spending.

Most women have already started their shopping, according to the 2012 Women’s Holiday Shopping Report. Only 11% of respondents are planning to start shopping the day after Thanksgiving – Black Friday. Many reported that their holiday shopping well underway already, with 41 percent starting before Thanksgiving. Twenty-two percent of women say they shop year-round in preparation for the season.

Cooking and entertaining wins

When asked about where they might cut back this year, 42 percent of the women surveyed said they would like to stop exchanging gifts with some people on their lists. The majority said they would rather not skimp on food and entertaining, and would prefer to save on gift-giving.  Fifty-two percent said they are exchanging homemade gifts, such as baked goods, to save money this year.

Budget breakdown

Most women (93%) said they have a set budget for holiday spending. Here is the breakdown by category and the amount respondents expect to spend:

  • Gifts – 48% plan to spend at least $500
  • Travel – 56% plan to spend at least $100
  • Food/Entertainment – 51% plan to spend at least $100
  • Charity donations – 57% plan to spend at least $50

If their bank accounts don’t accommodate their budgets, 43 percent of survey respondents said they don’t mind putting the extra charges on a credit card and carrying a little bit of debt. The majority said they would pay off any credit card debt they incur within one month.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
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