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Do we really want to know what these stats are? Haha! It’s quite interesting for sure and I thought I would share with you the verdict…
Women who are planning on spending more on Christmas gifts this year will be able to do so without guilt as they have planned and saved properly prior to the season. Excellent news right? Do you fall into this category?
For women who are looking to spend a little less this year on Christmas gifts it is because they are not making as much as they used to. Maybe they took a pay cut or quit their job completely.
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Where will the hard-working woman’s money be going to this year? Check this out:
Charitable Giving
• The majority of women plan to donate to charity over the December holiday (73%)
• Most (46%) plan to give $100-$499 to charity
Holiday Travel
• Most women (48%) plan to stay at home
• Of those who are planning to travel, most are doing so to see family
• The most commonly reporter budget range for holiday travel costs is $100-$499, though over half of women traveling will spend upwards of $500
Gift Giving
• 59% of women plan to spend $500 or more on holiday gifts
• 41% plan to limit themselves to an under-$500 budget
• 94% are not planning on making a ‘major’ holiday purchase this year (car, jewelry, etc.)
• More than any other product category, 58% plan to buy electronics
• Women are much more likely to purchase something made in America now than before the economic crisis*
Christmas Clubs & Layaway
• 10% of women still contribute to a ‘Christmas Club’ or dedicated holiday spending savings account; 90% do not
• 94% will not use layaway services
Taking on Debt
• The vast majority of women are not willing to take on debt for holiday spending
Thanksgiving
• Most women still plan to cook for their Thanksgiving meal, and spend $50-$99
• 69% are not planning on traveling
Black Friday
• 72% of women do not plan to go shopping on Black Friday, compared to 79% of men
New Year’s Eve
• 91% of women will spend less than $200 on New Year’s Eve celebrations, with most costs going toward food
“This research is based upon Spectrem’s Millionaire Corner monthly research with investors. It includes responses from approximately 1,400 households per month which are proportionately allocated among wealth segments used in the analysis. Media are encouraged to pull appropriate statistics for their individual holiday stories.”