This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Consumers Ready to Add $100 to Holiday Shopping, Survey Says

Stocks in this article: DFS

NEW YORK ( TheStreet) -- Mid-November is "go" time for millions of U.S. holiday shoppers, and this year that means a more financially aggressive outlook for shoppers.

One study puts a dollar figure on the amount by which Americans will outspend their their holiday budgets last year: about $100.

The survey, from Discover Financial Services (DFS), says consumers plan to bump up their spending to $838 from $748. Women are especially eager to pump up holiday financial volume, telling Discover they will spend $165 more than they did last year.

That's an encouraging sign for U.S. retailers, who consider the holiday shopping season to be a "make or break" deal for annual revenues. If women, widely considered by retailers to handle the family finances, are budgeting more money for holiday shopping, the near-term financial outlook brightens for merchants.

The Discover survey is also full of other financial "vital signs" from U.S, households as the holidays draw near. Here's a closer look:

  • Budgets are set. Just because Americans plan on spending more over the next six weeks doesn't mean they don't have a financial plan for the holidays. The survey notes 51% of Americans say they have a budget this year and are determined to hold to it.
  • Good deals are the big factor. Forty-two percent of consumers say that of all factors affecting their buying outlook, retailers' sales and promotions are at the top of that list. That beats household spending (27%) and a consumer's job situation (13%) by a wide margin. Clearly, getting good value continues to be a part of the new economic normal for U.S. shoppers.
  • High-end shoppers are on the rise. Last year only 2% of survey respondents said they would spend between $1,000 and $5,000 on holiday spending. But shoppers must really be feeling their oats, as that figure up to 14% in 2012.
  • Bosses aren't the priority. Only 1% of U.S. consumers will spend the highest amount on a co-worker or a boss this holiday. No offense, though -- most of consumers' shopping budgets are geared toward children (42%) and significant others (26%). "Close friends" will get the lion's share of holiday presents from 6% of consumers.
  • Shipping is a big plus. Discover asked survey respondents what the optimal deal would be when shopping online. 79% said free shipping was best, followed by exclusive sales and offers, and coupon codes, which women particularly found favorable. Free shipping was considered a non-negotiable "must have" by holiday shoppers.
  • Consumers are getting fickle. The gift that shows you really care this year is cash, or at least a gift card. Both items topped the "wish lists" of gifts both genders want to see under the tree this year.

Consumers also say they expect to lean on their credit cards rewards points to help defray the cost of Christmas shopping. In addition, 14% of holiday shoppers -- an all-time high for the Discover survey -- say they will restrict their shopping to online retailers.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs