The results from the Consumer Reports Holiday Poll were released Thursday. Results indicate that 66 Million Americans (36 percent) have not started their holiday shopping this season.
This could be due to procrastination, but it is more likely due to a reluctance to spend money. 81 percent of Americans reported that they are at least somewhat concerned with how much money they spend this holiday season.
Out of that 81 percent, 31 percent stated that they were very concerned with how much money they spend.
Consumer Reports received a wide variety of responses regarding how American shoppers are coping with their spending concerns.
- 55 percent said that they will be purchasing less expensive gifts
- 46 percent said that they will be more vigilant about sales and coupons that are available
- 38 percent plan on giving gifts to less people
- 29 percent have agreed to have gift exchanges with family or friends
- 23 percent plan on buying gifts online only when free shipping is available
- 21 percent will make hand-made gifts instead of spending money at stores
- 19 percent will cut back on traveling during the holidays
- 16 percent plan on sending holiday cards to less people
According to the results of the poll, the average amount of money that will be spent on gifts is $483.
Despite concerns about money, Consumer Reports stated that many Americans are enjoying the holiday season.
“Our poll revealed that Americans have plenty of shopping left to do and are generally enjoying the holiday season so far,” said Tod Marks, senior editor of Consumer Reports. “However, they are also watching their dollars very closely and just as in years past, they’re looking for bargains.”
You may wonder how American shoppers are finding the best bargains – according to the Consumer Reports poll, newspapers are the main source of information on the best holiday shopping bargains. 43 percent of Americans reported that they use the newspaper as their main outlet for bargains.
38 percent of Americans found promotional flyers or circulars to be a good source about holiday shopping bargains, while 36 percent found TV or radio ads to be a useful source.
Email promotions were also reported to be a source of information about holiday shopping bargains – 29 percent of Americans reported using email promotions as a source.
15 percent of those surveyed stated that they used deal or coupon websites (such as Groupon) for their source of holiday shopping bargains. Only 13 percent stated that they used (or planned to use) social media for information on holiday shopping deals.
The full results of the Consumer Reports Holiday Poll are available at www.ConsumerReports.org
How concerned are you with your holiday spending? How much progress have you made with your holiday shopping plans? Share your comments in the section below!