This holiday buying season is seeing consumers be smart about their spending, according to the American Express Spending & Saving Tracker. The Tracker showed 66% of holiday shoppers creating a budget.
The report also shows 75% considering shopping last minute (up from 77% in 2012). The reasons:
• to take advantage of the best deals—45% this year, up from 37% in 2012
• take time to save enough to cover purchases—20% this year, from 27% in 2012
More than half of Americans—54%—say the economic uncertainty is causing them to watch their budgets.
“Economic concerns coupled with an aggressive push by retailers earlier in the season created a unique push and pull between shopper and retailers,” said David Rabkin, SVP of U.S. Consumer Lending Products, American Express. “Americans aren’t sacrificing on holiday fun; they’re still giving and spending to look great at their holiday get-togethers, but they are relying more and more on deals and discounts to help them stay within their budgets.”
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