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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Visa Inc. Survey Finds 73% Of Consumers Still Have Christmas Gifts To Buy

Stocks in this article: V

For Procrastinators, 'Panic Shopping' Sets In; Last-Minute Shoppers Will Spend an Average of $304

FOSTER CITY, Calif., Dec. 17, 2012 /PRNewswire-USNewswire/ -- A new survey released by Visa Inc. shows that 73% of consumers still haven't finished shopping for Christmas gifts. These last-minute shoppers will spend an average of $304 in the final days leading up to Christmas.

Based on 1,007 telephone interviews conducted nationally between December 14 – 16 by GfK Roper OmniTel, Visa's survey finds that 16% of consumers have yet to purchase a single gift and plan to do all of their shopping at the last-minute.

At this point in 2011, with one final Saturday left before Christmas, 77% of consumers had yet to finish their shopping, planning to spend $278, while the number of professional procrastinators who hadn't even begun shopping stood at 13%.

"With this many Americans still desperate to buy gifts, we are officially in the danger zone for 'panic shopping,'" said Jason Alderman, Visa's Senior Director of Global Financial Education. "When shoppers panic, they throw money at the problem and often overspend to get a gift – any gift – in time for Christmas."

Visa's survey found regional, income and gender disparities among those who still had some Christmas shopping to complete.

  • 69% of Southerners still have gifts to buy and will spend $329
  • 69% of Midwesterners still have gifts to buy and will spend $239
  • 78% of Northeasterners still have gifts to buy and will spend $271
  • 79% of Westerners still have gifts to buy and will spend $352
  • 74% of women nationally still have gifts to buy and will spend $218
  • 72% of men nationally still have gifts to buy and will spend $399
  • 71% of people with household income under $20,000 still have gifts to buy and will spend $170
  • 74% of people with household income between $20,000 and $49,999 still have gifts to buy and will spend $208
  • 78% of people with household incomes over $50,000 still have gifts to buy and will spend $401

To ensure that panic shopping this week doesn't turn into a holiday hangover next month, Visa is providing some helpful budgeting tips.

  1. Spend no more than 1.5 percent of annual income on holiday expenses. For a family earning $50,000 a year, that means spending $750 or less on all aspects of the holidays.
  2. Have a 'micro budget' – a specific spending limit – for each person on your gift list.
  3. Join together with family members to help those who may be less fortunate and make a group contribution to a charity, in lieu of gifts to each other.
  4. Instead of buying a gift at a store, consider giving the gift of your time by providing an experience like agreeing to cook dinner on a weekend night, clean the house or do laundry.
  5. Visa offers a free online holiday budgeting calculator at www.practicalmoneyskills.com/holiday and as an iPhone app under "Practical Money Skills calculators" in the iTunes store.

About Visa Inc.Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks-VisaNet-that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit http://www.corporate.visa.com.

Survey Methodology The survey results contained in this report are from GfK Roper's weekly telephone omnibus service, OmniTel. Interviewing was conducted from December 14-16, 2012. A total of 1007 interviews with adults aged 18+ were completed. The margin of error for this study is +/- 3 percentage points.

SOURCE Visa Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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!

Markets

DOW 17,582.35 +225.48 1.30%
S&P 500 2,026.61 +13.72 0.68%
NASDAQ 4,709.8710 +65.5590 1.41%

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