Are you planning on spending as much during the holidays than you did last year?
If so, you’re in the majority. A new Discover survey finds that exactly half of consumes plan to mostly match their 2011 holiday spending, while 23 percent plan to spend more. Overall, women are expected to spend around $165 more than men.
What else did the survey find? We cover Discover’s latest shopping statistics in this Data Point.
How Much Will We Spend?
Around half of all respondents (46 percent) indicated that they plan to spend between $100 and $500 dollars, while 26 percent said they’re aiming between $500 and $1,000. Fourteen percent are planning to be big spenders in the $1,000 to $5,000 range, up 2 percent from a year ago.
Who Will We Spend For?
Children and significant others will be the biggest beneficiaries of holiday spending this season, as a respective 42 percent and 26 percent of holiday budgets will be spent on their gifts. Friends, and co-workers will be less fortunate, seeing just 6 percent and 1 percent of spending. Women are most likely to spend on children, while men are most likely to spend on their significant others.
Who Looks For Deals?
The survey revealed that 70 percent of women will look for special shopping incentives, compared to just 56 percent of men. Women are also more likely than men to limit purchases to “deep sales” items (54 percent to 48 percent), and 57 percent of women plan to use coupon codes, compared to jut 41 percent of men.
What’s On Our Wish Lists?
For both men and women alike, gift cards and money rang in as the most-desired gifts. Consumer electronics, games/video games and apparel were the next three items listed for men, and apparel, jewelry and a tablet or eReader rounded out the Top 5 for women. Smartphones were seventh on the men’s list and eighth on the women’s list.
To read more holiday shopping statistics, view Discover’s complete findings here.