Consumer Payment Card News

Holiday Outlook

About seven out of ten households are likely to spend the same or more this year than last during the upcoming holiday season. Gift cards will remain the #1 gift purchase this year, with 67% of nationwide respondents indicating that they will purchase an average of 4.9 cards, making them even more popular than last year, when 64% nationally purchased an average of 4.7 cards. The results from Deloitte’s “Annual Holiday Mood Survey” also reveals that non-auto holiday sales will increase in the 6% to 6.5% range during the November-to-January period, less than last year’s exceptional 8.6% increase, but still above the last decade’s average growth rate. Nearly 70% of consumers nationwide will spend some of their holiday budget on the Internet, which represents 21% of their total holiday spending.

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