Holiday Shopping Forecast: Sales Are Up - Other News

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Holiday Shopping Forecast: Sales Are Up

Holiday Shopping Forecast: Sales Are Up

Add to Favorites:

Consumers are feeling more optimistic about their personal finances this year-and it’s translating into more holiday cheer.

“Shoppers indicate they have more to spend and more to buy this season, influenced by their underlying confidence about personal finances,” said Sanjay Sidhwani, senior vice president of Marketing Analytics for Synchrony Financial. “We are forecasting a 3.6% rise in holiday retail sales.”

Just about half (48%) of people said that they started their holiday shopping early this year. But even though financial optimism is up, they are still looking for the best deals.

Holiday lists are longer this year

While consumers might have been looking to cut down on their holiday spending in years past, their lists are longer this season with 32% planning on spending more, up 11% from last year. But this doesn’t mean that they aren’t budgeting – they are.

More than half (53%) are giving themselves a holiday budget, while over three-quarters (76%) will be doing plenty of comparison shopping to make sure they get the best deal in town.
What will they be buying? Electronics, clothing, shoes, toys, games and gift cards are on many of their shopping lists.

Shopping in real time and online, using credit and earning rewards

While online shopping during the holidays is definitely on to-do lists, heading to the store is still the preferred shopping experience. But nearly three-quarters said shopping online is easier, and their top reasons for buying online include free shipping, convenience and of course, price.

In general online sales have been growing at a rate of 10% year in and year out, but many of the people in this survey said that they discovered sales via a rather traditional method – the newspaper.

How will they be paying for their holiday gifts? Credit cards and rewards are in style, with 80% reporting that they will pay for some of their gifts using credit cards. Rewards are a factor too, with 40% suggesting that rewards play a role in deciding what card they will be using when they hit the stores to do their holiday shopping.

The pre-holiday Synchrony Financial Study was conducted online between September 18 and September 28. They interviewed 1,400 adults, which included an almost equal number of Synchrony Bank cardholders and random shoppers.

All credit cards terms, fees and rates mentioned in this article/post are actual on the posting date. See the current products’ Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Getting Holiday Shopping in Under the Wire
Getting Holiday Shopping in Under the Wire

Posted: December 21, 2015

If you're not done with your holiday shopping and think you might just get it in under the wire, you're not alone. Continue reading
Small Business Saturday Spending Forecast
Small Business Saturday Spending Forecast

Posted: November 27, 2015

Small Business Saturday is strategically sandwiched between Black Friday and Cyber Monday and people are gearing up to shop small this weekend. Continue reading
Consumers Gearing Up to Shop the Day After Christmas
Consumers Gearing Up to Shop the Day After Christmas

Posted: December 22, 2015

If you're holding off on doing your holiday shopping you are not alone, according to the new American Express Tracker. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
You could turn $150 into $300 with Cashback Match™. Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically.
For Excellent, Good Credit
No Annual Fee. See WebBank/Fingerhut Credit Account Terms.
For Bad Credit