Shoppers Increase Spending On Experiences, Instead of Goods For Holidays

Consumer spending on experiences, including traveling and dining, is taking the spotlight this holiday season.
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Consumer spending on experiences, including traveling and dining, is taking the spotlight this holiday season. Some 27% plan to gift an experience this year, while 47% of consumers have given an experience as a gift in the past, according to a survey by credit-monitoring agency Experian. Separately, data analyzed by MasterCard said October spending on lodging rose 5.7% year-over-year, while casual dining rose 7-10%. Jewelry spending has also been on the rise over the past 20 months, showing strength on the consumer side. TheStreet's Scott Gamm speaks with Sarah Quinlan, SVP & Group Head of Market Insights at MasterCard Advisors.