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Published
Nov 30, 2016
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American shoppers plan to waive holiday shopping budgets this year

Published
Nov 30, 2016

According to the 2016 ICSC Shopping Report that released this week, holiday shopping will match or surpass 2015’s sales numbers. LendingTree on Monday released a survey that may have found why shoppers will spend more this year.


Some 21.1% of the shoppers surveyed in the Holiday Shopping Survey said they will be shopping less in physical stores this season and will shop online, which is an increase from 17.7% from last year


 The second annual Holiday Shopping Survey from LendingTree found that more than half of Americans plan to shop for the holidays without a set budget. 66.1% of shoppers expect to spend $500 or less on gifts this holiday season, and 10.83% expect to spend more money overall on gifts compared to 2015.
 
The spirit of giving may compel shoppers to go above and beyond their means, but it also leaves shoppers with regret. Over 43% of the people surveyed admitted to having financial regret after holiday shopping and some consumers said they might face more debt in the new year. Around 27% of Americans had holiday-related debt in the first few months of 2016, which is an improvement over last year, and 4.6% are still paying off last year’s shopping debt.

21.1% of the shoppers surveyed in the Holiday Shopping Survey said they will be shopping less in physical stores this season and will shop online, which is an increase from 17.7% from last year.
 
A recurring theme this holiday season is the increase in online holiday shopping. This year, retailers kicked off their online deals well before Cyber Monday, and according to Adobe Digital Insights, Cyber Monday this year was the biggest shopping day in US history with customers spending over $3.45 billion.
 
LendingTree is the nation’s leading online loan marketplace that provides free monthly credit scores and access to over 350 lenders.
 

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