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Wednesday, November 22, 2006

80 Percent of Shoppers Will Spend More Than Planned


It's the season for shoppers going wild-- and according to a recent consumer survey by eToys.com, most shoppers say they will lose control of their wallets.

According to eToys.com, 45 percent of those polled set a budget, and then spend beyond it. Thirty-fivepercent said they don't set a holiday spending limit, while only 19 percent set a budget and stick to it. A mere 2 percent spend less than they budget.

For those who think the holiday season seems to start earlier, theresearch indicates that many consumers get a head start on their shopping. The survey results indicate that 31 percent of those polled started theirholiday shopping at least four months in advance. Fifty-two percent say they shop at least a month ahead and only 2 percent wait until the last minute.

"While sales start to increase in October, Black Friday kicks off the busiest part of the holiday shopping season at eToys," says Michael Wagner, CEO of eToys Direct, Inc. "Typically, sales peak in early December, but we are seeing a trend of increased last-minute shopping."

Other key findings of the eToys.com holiday spending survey:

* Personal finances will be the number one concern of holiday shoppers this season as they set their spending limits, according to eToys.com's recent poll. Gas prices are the second biggest factor that will influence holiday spending -- which means recent price drops at the gas pump will be welcome by consumers. Coming in third in the category of holiday spending considerations is the price of home heating.

* Naughty or nice doesn't seem to make a big difference these days. Sixty-four percent of respondents to the eToys.com survey said that their child's behavior does not affect the number of gifts he or she will receive at the holidays. One quarter of respondents said they might be inclined to reward positive behavior with more gifts and only 11 percent said they would consider giving fewer gifts due to bad behavior.

* Look for "big gifts" under the tree this Christmas. Ninety-two percent of consumers polled by eToys.com say they plan to give one big gift this year along with other, less expensive gifts. Of those surveyed about their child's perception of the "big gift," 42 percent said the "big gift" was the gift their child asked for, while 34 percent said it's the perceived dollar value. Only 16 percent said that the physical size of the gift was key.

* It won't be all fun and games for children this holiday season, with many shoppers favoring some practical gifts. In the eToys.com survey, 86 percent of consumers polled say they will give their children clothing, 27 percent plan to give shoes and 6 percent said school supplies will find their way under the tree.

* More and more consumers are enjoying the convenience of purchasing gifts online rather than traveling to the mall. Of the consumers surveyed by eToys.com, 27% plan to purchase more holiday items online this year than in years past.

1 Comments:

Blogger sweetpancakes said...

Thanks for the info, good blog!
Managing your money during the holidays is simple once you know the pro's and con's involved. Reevaluating how you shop during the holiday seasons is also a part of sensible money management. Setting spending limits where your credit is concerned is always the best bet. Hope you will find those resources useful for your blog and to your many readers. Have a super day!

4:01 PM  

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