2017 Merry Money Holiday Spending Survey

December 20, 2017 - Consumer Insights Florida New England New Jersey, New York and PA

How much are Americans planning to spend this holiday shopping season – and how likely are they to overspend? Who's making a budget – and who's sticking to it? These are the kinds of questions we asked in our 2017 Merry Money Holiday Spending Survey. The results may surprise you. 

  • Shoppers plan to spend at least $500 this holiday season. Nearly 8 in 10 consumers (76 percent) admit to overspending in the past – an average of $263. Among the top reasons for excessive spending, consumers listed spending more on gifts than expected (71 percent) and buying gifts that were not on the original list (57 percent).
  • Experience-driven millennials far overspend their budget (72 percent) on holiday-related events compared to members of Generation X (24 percent) and baby boomers (18 percent). But amidst this holiday overindulgence, this younger generation does have some frugal habits. Most millennials (65 percent) create a holiday budget, in comparison to 56 percent of Gen Xers and 35 percent of baby boomers.
  • More than half of respondents admitted to previously re-gifting a present (56 percent), noting that the top reasons for re-gifting include thinking that someone else would like it more (65 percent) as well as disliking the gift (40 percent).

Read the press release.

Stay up to date with email alerts