Financial Technology

Financial Technology

November 18, 2013 Releases Holiday Shopping Survey

Tis the season for holiday shopping, and these days that means quite a bit more online shopping than in years past. Online money management company recently released a new survey that asked consumers about their anticipated spending and spending habits this particular shopping season. What the survey found might be a bit surprising to some. In total, almost half (43.2 percent) said that they don’t plan to change their shopping habits this year.

One new finding the survey uncovered is that one in seven of those who participated in the survey plan to sign up for store credit cards in order to get various discounts. The survey also found that while people might not be changing their plans from one year to the next, those plans are very different depending what the part of the country they are from. There are also some key differences when it comes to men and women.

"Given the current economic situation, we felt it was important to look at consumer spending and credit card habits for the holidays, particularly at how behavior differs this time of year and how this year's behavior will compare to last year's," said Jim Schinella, CEO of Manilla in a recent statement. "We found that expectations for holiday spending differed across regions, with some areas planning significantly less spending than last year while others plan to spend about the same, pointing to the fact that not everyone is impacted equally by current financial realities."

Whether shopping online or in brick and mortar stores, it appears New Englanders are the most confident in their shopping plans. The survey returned that just 16 percent of people in New England plan to spend less this year than last. More New Englanders (60 percent) plan to start their Holiday shopping before Thanksgiving. Only 44 percent of shoppers plan to mirror that behavior in other areas of the country.

When talking about the separation of the sexes, more women (43 percent to 34 percent) say they will be spending less than last year. When it comes to paying all their bills, men have a better track record. 37.2 percent of women say they forget to pay at least one bill during the Holiday season. Just 29.4 percent of men report the same.

Edited by Blaise McNamee

blog comments powered by Disqus

FREE eNewsletter

Financial Technology Industry News