For this holiday season, 80% of consumers plan to spend as much as or more than they did last year, according to a recent report from SAS.
The report was based on data from a survey of 3,458 consumers in the US, Canada, the UK, Australia, and New Zealand.
The US leads expected spending growth, with 29% of US respondents saying they plan to spend more this year. Most Canadian shoppers, on the other hand, say they are tightening their budgets this year.
Millennial respondents (age 18-29) are the most likely to say they will increase their spending this year, whereas older consumers are the most likely to say they'll stick with last years budget.
Other key insights from the report:
- Fewer US consumers plan to shop on Thanksgiving Day this year compared with 2014; last year, 25% planned to hit the stores after finishing off the turkey, compared with only 17% this year.
- Half of younger shoppers surveyed plan to do most of their holiday shopping between Thanksgiving and Cyber Monday, compared with just one-third of shoppers over 30.
- Gift cards are the top gift choice for the consumers surveyed, followed by toys/games and apparel.
Check out the infographic for more:
About the research: The report was based on data from a survey of 3,458 consumers in the US, Canada, the UK, Australia, and New Zealand.
