Maybe it’s because for the last few years consumers have been somewhat subdued when it comes to holiday spending, but this year seems to already be looking up, if only slightly. More holiday shoppers who were polled recently conveyed that they would indeed be using their credit cards more this year for their gift purchases. Most say they plan to spend about the same amount as last year, which averaged $670. Fourteen percent indicated their spending patterns for the holiday might increase.
A recent poll by TD Bank told the story that 38 percent of holiday shoppers will use credit cards for their purchases this year, with 31 percent touting the use of debit cards, and 28 percent paying cash for their gift items this season. Sixty-four percent intimated that they would be purchasing gift cards for their chosen recipients. This survey involved over 1,800 consumers in the Northeast and Eastern regions of the country.