Discover Survey Shows Consumers Have a Merry Outlook on Spending
12 Novembre 2012 - 2:05PM
Business Wire
Consumers plan to spend more this holiday season than in 2011 by
about $100, according to the 2012 Discover Annual Holiday Shopping
Survey, which examines spending intentions and trends for the
upcoming holiday season. Spending jumped to an average of $838 this
year, up from $748 in 2011, and women will lead in spending by
nearly $165.
Just more than half of consumers, 51 percent, have a set budget
for the 2012 holiday season. Exactly half of consumers say they
plan to spend about the same as they did in 2011, and 23 percent
plan to spend more this year. Forty-two percent say retailers’
sales and promotions will most influence their holiday spending,
followed by household expenses at 27 percent and job loss/gain at
13 percent.
Key Spending Figures
Forty-six percent of shoppers plan to spend between $100 and
$500, while roughly one-quarter, 26 percent, say they plan to spend
between $500 and $1,000. The number of consumers who report
planning to spend $1,000 to $5,000 increased to 14 percent in 2012,
up 2 percent from last year.
Shoppers say they will spend the most on children and a
significant other this holiday season, at 42 percent and 26
percent, respectively. Gifts for co-workers and bosses will receive
the smallest share of holiday budgets at 1 percent, with friends
coming in second-to-last at 6 percent.
Twice as many women, 56 percent compared to 28 percent of men,
will spend the most on their children. However, more men, 30
percent, will spend the most on their significant other, compared
to 23 percent of women who said the same. More men also plan to
spend the most on their parents, as 25 percent listed them at the
top of their spending list compared to just 10 percent of
women.
Savvy Shopping Strategies
Consumers will employ a wide variety of savvy shopping tricks to
get the best deals this holiday season, with two major trends
taking the lead. To find the best deal on a purchase, 75 percent of
consumers say they will shop around online for better prices, and
63 percent plan to seek out special shopping incentives, like free
shipping, to make the most of their budget.
In a comparison between men and women, women showed a higher
likelihood to seek out deals:
- To make the most of their holiday
budget, 70 percent of women will look for special shopping
incentives, compared to 56 percent of men who will do the
same.
- Fifty-seven percent of women plan to
search for and use coupon codes to get the best price, compared to
41 percent of men.
- More women, 54 percent compared to 48
percent of men, plan to limit purchases to items with deep sales,
such as 25 percent off.
- More women than men would buy a gift
through a group-buying site, at 67 percent and 54 percent,
respectively.
Along with using several shopping strategies to stretch their
budget further, consumers plan to look for specific holiday
promotions, take advantage of credit card rewards and shop on
doorbuster days:
- When asked to choose from the following
five online deals they are looking for, shoppers ranked free
shipping first with 79 percent, followed by exclusive sales and
offers, coupon codes, early access to sales and Facebook-exclusive
promotions.
- When asked to choose from holiday
shopping “must-haves,” consumers selected free shipping, 50 percent
off sales and 25 percent off sales as their top-ranked
choices.
- Thirty-five percent of shoppers say
they will use their credit card rewards as a form of currency to
supplement their holiday shopping this holiday season. Of those who
plan to do this, 58 percent say they will redeem their rewards for
gift cards. Forty percent of women, but only 30 percent of men,
plan to use credit card rewards to supplement their shopping.
- As for finding the best time to shop,
more than one-third of shoppers, 36 percent, say they plan to do a
majority of their holiday shopping on Black Friday and Cyber
Monday.
Consumers plan to shop both in-store and online this year.
Although a greater number of shoppers, 60 percent, plan to combine
online and in-store shopping, 14 percent plan to do the majority of
their holiday shopping online. Of those shoppers, 96 percent say
they will use their computer, compared to just 3 percent who say
they’ll shop from their tablet or smartphone.
Cash, Apparel & Electronics Top Consumers’ Wish
Lists
Survey respondents say it’s hardest to find the perfect gift for
family members and significant others. The Discover Holiday
Shopping Survey found men and women have varying wish list
priorities, although gift cards and money top both lists. Men and
women also have different outlooks on what they’re most likely to
do if they receive a gift they don’t like. For women, 57 percent
say they are most likely to return/exchange a gift they dislike.
Nearly half of men, 49 percent, are most likely to say they love
the gift and keep it, no matter what it is.
Men’s Top 10 Wish List
Women’s Top 10 Wish List 1. Gift cards 1. Gift
cards 2. Money 2. Money 3. Consumer electronics
3. Apparel 4. Games/video games 4.
Jewelry 5. Apparel 5. Tablet or e-reader 6. Tablet or
e-reader 6. Consumer electronics 7. New smartphone
7. Adventure/Experience such as tickets to a concert
or vacation 8. Adventure/Experience such as tickets to a concert or
vacation 8. New smartphone 9.
Memberships/subscriptions 9.
Memberships/subscriptions 10. Jewelry 10. Games/video
games
About the Discover Card Holiday Shopping Survey
The Discover Holiday Shopping Survey was conducted online with
506 male and 497 female adults. The research was conducted from
Oct. 26 to Oct. 30, 2012, by Penn Schoen Berland.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company operates the Discover card, America's cash rewards
pioneer, and offers home loans, private student loans, personal
loans, online savings accounts, certificates of deposit and money
market accounts through its direct banking business. Its payment
businesses consist of Discover Network, with millions of merchant
and cash access locations; PULSE, one of the nation's leading
ATM/debit networks; and Diners Club International, a global
payments network with acceptance in more than 185 countries and
territories. For more information, visit
www.discoverfinancial.com.
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