What Will You Buy This Holiday Season?
PriceGrabber, a division of Experian – one of the three national credit reporting agencies, conducted their first winter holiday shopping survey. The survey asked about spending for the holidays and what they will buy. It was conducted on 3,070 online U.S. shoppers from September 7 to 15. More than half (52 percent) plan to spend $500 or more, 36 percent plan to spend less than $500 and 12 percent didn’t have a budget.
They were asked which items they would buy and could select as many as they wanted. Here are the items they plan to buy:
66 percent selected clothing.
52 percent will purchase gift cards.
46 percent plan to buy books, CDs, DVDs or video games.
43 percent will buy toys. 31 percent selected hobby items.
25 percent will buy shoes.
23 percent plan to purchase food or candy.
21 percent selected jewelry.
20 percent will buy sporting goods
15 percent selected cosmetics, spa packages or beauty-related gifts.
Those that selected electronic products would mostly purchase tablets, iPods or MP3 players. Their second choice would be e-book readers, cell phones or smartphones, cameras, TVs and laptops.
They believed the best deals were from Thanksgiving holiday to Christmas. Approximately 29 percent selected after the Thanksgiving holiday, 23 percent selected the day after Thanksgiving (Black Friday), 15 percent selected Cyber Monday and 28 percent said the month of December.
What is on your holiday gift list and how much do you plan to spend? Clothing seems to be on the top of the list. If you buying clothing from at the brick and mortar store, try to avoid opening new retail accounts at every location just to get the discount. Try to make one large purchase to take advantage of the discount. It is easy to get carried away and charge too much that you can’t repay later. Make an early New Year’s resolution – don’t get into debt this holiday season.
Credit Expert, John Ulzheimer, is the President of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, and a Contributor for the National Foundation for Credit Counseling. He is an expert on credit reporting, credit scoring and identity theft. Formerly of FICO, Equifax and Credit.com, John is the only recognized credit expert who actually comes from the credit industry. Follow him on Twitter here.