Credit Card 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 » Spending Expected to Be Up For the Holidays

Spending Expected to Be Up For the Holidays

By
Add to Favorites:
Spending Expected to Be Up For the Holidays
November
14

Consumers expect to be reach deeper into their wallets this holiday season, according to Discover. Nearly half of respondents said that they will be spending between $500 and $5,000.

More people are looking to get out and shop on Black Friday and Cyber Monday, according to the survey

Spend, spend, spend

On average, the amount consumers plan on spending is up 20% from last year to $1,014, with men leading the field when it comes to spending more. Nearly a third (31%) said they will be increasing their budget compared to 22% of women that say their spending will be up.

How much they will be spending is based on three main factors – sales and promotions (44%), household expenses (27%), and how much debt they have (14%).

Just over half (55%) will be using cash to pay for purchases, while 29% will be using credit cards. Reward points play a role in shopping this season, with 40% of consumers indicating that they will be cashing in points to save money.

Technology makes shopping easier

Technology is having an impact on shopping patterns with 84 % of respondents reporting they will be shopping online, as well as in stores. This is a change from last year, when 60% divided their shopping between online and in-store venues.

People will be doing their research ahead of time whether they are shopping online or in person, using social media, retail websites, news sites and newspapers, to make sure they get the best deals. The top shopping categories reported are electronics (87%), clothing (71%), toys (58%) and jewelry (30%).

Apps are also part of holiday shopping plans. Just over half (51%) will be using them find the best price, and 31% will be will be reaching into their virtual wallets along with their real ones to buy gifts and celebrate.

Those hot button shopping days getting traction

Black Friday and Cyber Monday offer consumers big savings. This year, 70% of survey takers plan on doing at least some of their shopping on one of those days, with a third planning on getting most of it done then.

The Discover Annual Holiday Shopping Survey took place between Sept. 24 and Oct. 22, 2013. This online survey includes responses from 1,005 adults, evenly split between men and women.

Add to Favorites:

Related News:

Holiday Shoppers Get Serious About Budgets

By Elizabeth Nelson, Posted: December 05, 2014

As people check items off their shopping lists this holiday season, they’ll be keeping another type of list too: how much they’re spending. Continue reading
Holiday Shopping Continues Even After Christmas

By Elizabeth Nelson, Posted: December 17, 2014

The holiday shopping season doesn’t end once Christmas is over, according to the latest American Express Spending & Saving Tracker. In fact, the day after Christmas is creeping up on Black Friday as one of the biggest shopping days of the ... Continue reading
Americans Digging Deep For Love

By Dar Dowling, Posted: February 13, 2015

Chocolate prices may be going up for Valentine’s Day, but according to a new study it's not getting in the way of love. Sweethearts are spending more this year on everything from chocolate and flowers to engagement rings. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 12.24%-22.24% based upon your creditworthiness.
For Excellent/Good Credit
1% cash back on select purchases, terms apply
For Fair Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit