Visa Inc. Survey Finds 73% of Consumers Still Have Christmas Gifts to Buy
For Procrastinators, 'Panic Shopping' Sets In; Last-Minute Shoppers Will Spend an Average of
Based on 1,007 telephone interviews conducted nationally between
At this point in 2011, with one final Saturday left before Christmas, 77% of consumers had yet to finish their shopping, planning to spend
"With this many Americans still desperate to buy gifts, we are officially in the danger zone for 'panic shopping,'" said
Visa's survey found regional, income and gender disparities among those who still had some Christmas shopping to complete.
- 69% of Southerners still have gifts to buy and will spend
- 69% of Midwesterners still have gifts to buy and will spend
- 78% of Northeasterners still have gifts to buy and will spend
- 79% of Westerners still have gifts to buy and will spend
- 74% of women nationally still have gifts to buy and will spend
- 72% of men nationally still have gifts to buy and will spend
- 71% of people with household income under
$20,000still have gifts to buy and will spend $170
- 74% of people with household income between
$20,000 and $49,999still have gifts to buy and will spend $208
- 78% of people with household incomes over
$50,000still have gifts to buy and will spend $401
To ensure that panic shopping this week doesn't turn into a holiday hangover next month, Visa is providing some helpful budgeting tips.
- Spend no more than 1.5 percent of annual income on holiday expenses. For a family earning
$50,000a year, that means spending $750or less on all aspects of the holidays.
- Have a 'micro budget' – a specific spending limit – for each person on your gift list.
- Join together with family members to help those who may be less fortunate and make a group contribution to a charity, in lieu of gifts to each other.
- Instead of buying a gift at a store, consider giving the gift of your time by providing an experience like agreeing to cook dinner on a weekend night, clean the house or do laundry.
- Visa offers a free online holiday budgeting calculator at www.practicalmoneyskills.com/holiday and as an iPhone app under "Practical Money Skills calculators" in the iTunes store.
The survey results contained in this report are from GfK Roper's weekly telephone omnibus service,
Steve Burke, CRC Public Relations, Tel: +1-703-683-5004, ext. 108