Some 50 percent of American consumers say they plan to spend more this holiday season, according to a survey from credit card program service provider Alliance Data Retail Services.
Only 8 percent plan to spend less, and the remaining 42 percent will spend the same as last year.
“This is good news for retailers and the economy as a whole,” said Melody Gintert, senior manager of market intelligence for Alliance Data Retail Services, in a statement. “Consumers are beginning to feel more confident about the security of their income [and] only a small percentage of consumers intends to cut back on spending.”
Other survey results:
- Black Friday continues to play a key role in holiday shopping, with 55 percent of those surveyed saying they plan to shop on the day after Thanksgiving. Of that group, 62 percent said they shop that day to take advantage of deals and specials.
- Along those lines, the survey also found that consumers continue to be budget-conscious. “It’s still about the deal when it comes to holiday shopping for consumers,” said Gintert. “That doesn’t necessarily mean the deal has to be a discount, but something else that lends a sense of value.”
- Online shopping continues to grow in popularity; 24 percent said they’ll spend at least half their time shopping online, and 15 percent said they will do the same via mobile device.