News & Resources

Consumer spending expected to be up this holiday season

Nov 14, 2012 Philip Burgess

Debt collection agencies may see an influx in activity in the coming months, as a recent Discover survey revealed consumers plan to spend more this holiday shopping season. "I see a light at the end of the tunnel with more consumers telling us they plan to 'spend about the same' and less planning to 'spend less,'" said Marshal Cohen, chief industry analyst for NPD. Nearly three-quarters of respondents said they anticipate purchasing as much or more in 2012 as they did a year ago, with the average shopper purchasing $838 in products compared to $748. A combined 40 percent of consumers said they expect to spend somewhere between $500 and $5,000 in the coming months. The study also found gift cards to be the top-rated gift of choice, with a number of electronics like video games, tablets and smartphones cracking the top 10. According to a separate survey by NPD, more than three-quarters of shoppers will spend the same or more this year. In addition, 21 percent of respondents said they planned to start shopping prior to Thanksgiving, compared to 19 percent of respondents to the same poll in 2011.