Consumer Payment Card News

Holiday Spirit

American consumers will shell-out an average of $900 of their hard earned money for holiday gifts this year. Almost half of shoppers plan to spend between $100 and $500 this holiday season and more than a quarter intend to spend from $500 to $1,000. According to the “Discover Card Holiday Shopping Survey,” consumer spending intentions over the holidays are slightly higher than last year. Fifty-five percent of respondents plan to purchase a gift card for someone this holiday
season. The same number said that they would be thrilled if they received a general purpose gift card, which would allow them to buy anything they want. When asked to indicate all the places they prefer to shop this holiday season, 60% of respondents said department stores, while an equal percentage said discount stores. Thirty-seven percent said they preferred specialty stores, while 34% said they preferred to shop online. When asked how often they return gifts, 49% of
respondents said they keep most gifts, but every once in a while, they receive something that they return. An almost equal amount of respondents (45%) said that they never return gifts. Forty-seven percent of respondents were horrified by the idea of re-gifting, or giving a gift theyve received to someone else.

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