Eighty-four percent of US consumers say they have not yet wrapped up their holiday shopping, according to the latest American Express Spending & Saving Tracker. Survey data indicates holiday shoppers will be most generous with their children this holiday season, planning to spend $341 on average, followed by their spouse/significant other ($189 on average). Interestingly, mothers ($72 on average) will fare better than fathers ($45 on average). In addition, 31% of consumers plan to buy their pet animal a gift, spending $18 on average.
Consumers Will Shop Small, Big and Virtually
Retailers of all kinds can expect strong traffic this holiday season with:
- Nearly one-third (30%) of holiday shoppers saying they will make most of their purchases online.
- Sixty-four percent will do most of their shopping in stores.
- More than than six in ten (63%) plan to do some of their shopping at small business retailers.
Non-gift Spending Looks Strong
Seventy-five percent of consumers also plan to engage in discretionary spending on a number of items and services that are not gifts. These include:
- A haircut/styling (45%).
- A new outfit (35%).
- New shoes/accessories (24%).
- Manicure/pedicure (15%).
- Waxing (8%).
Fight for Your Right to Party
The majority of consumers (73%) have plans to celebrate Christmas/Hanukkah with family and/or friends this holiday season. Most (62%) will either attend or host a holiday party, while eight percent will celebrate at a restaurant. A smaller number of Americans will attend or host a New Year party or gathering (43%). Seventy-nine percent of partygoers will bring a gift for the host/hostess, spending an average of $33.
Online Holiday Spending Up 12% So Far
For the first 43 days of the November – December 2010 holiday season (Nov. 1 – Dec. 13), more than $23.82 billion has been spent online, marking a 12% increase from $21.3 billion the corresponding days last year, according to recent comScore data.
About the Data: The American Express Spending & Saving Tracker research was completed online among a random sample of consumers aged 18 and older. The research sample of 2,031 adults surveyed the general U.S. population, as well as two sub-groups – the affluent and young professionals. Interviewing was conducted by Echo Research between November 30 and December 2, 2010.