Shoppers Are Budget Savvy This Holiday Season
25 Novembre 2014 - 4:31PM
Business Wire
Discover Survey Shows Most Shoppers Plan to
Use Credit Card Rewards and Buy on a Budget
Shoppers will enter this holiday season spending more money,
while staying more disciplined, according to a recent independent
poll commissioned by Discover. More than half of shoppers, 57
percent, plan to have a budget in place for holiday purchases, up
from 52 percent in 2013. Forty percent plan to use credit cards for
most of their gift purchases, and among those, 87 percent will use
different credit cards depending on preferred rewards offers, up
from 76 percent in 2013.
Be Merry and Very Faithful to a Budget
Consumers overall plan to stick within a budget, but are
planning to spend more than in years past. Thirty percent of
shoppers said they plan to spend more, up from 23 percent in
2011.
Of those planning to spend more, 49 percent attribute the
increase to having more people to buy gifts for, and 32 percent
cited getting a raise or a new job. Among those shoppers who have
or plan to set a budget, roughly half are planning to spend less
than $500.
Spread Holiday Cheer with Cash Rewards at the End of the
Year
The use of credit cards is on the rise. Forty percent of
shoppers plan to use credit cards for most of their shopping above
any other type of payment method, which is up from 29 percent in
2013.
The majority of people using credit cards, 55 percent, cited
rewards as the biggest reason for doing so. Cash and
retailer-specific were the most commonly cited favorites.
Cyber Monday Shopping Doubles
This year, 18 percent of shoppers plan to do the majority of
their gift shopping on Cyber Monday, up 100 percent from 2012.
Consumers continue to consider mobile devices more as a shopping
aide rather than a primary means of buying gifts. When asked how
they would use their smartphones for holiday shopping, the most
commonly reported use was to compare prices while shopping
in-store, 46 percent, followed by using them to search for product
reviews at 38 percent.
The national survey of 1,504 consumers was commissioned by
Discover and conducted by uSamp, an independent survey research
firm (www.usamp.com), from October 28 – November 4, 2014.
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 issues the Discover card, America's cash rewards
pioneer, and offers home loans, private student loans, personal
loans, home equity loans, checking and savings accounts,
certificates of deposit and money market accounts through its
direct banking business. It operates the 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.discover.com/company.
DiscoverJenna DiMaria, 224-405-3808jennadimaria@discover.com
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