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It might be time for another spiked eggnog, because a new holiday shopping survey from WalletHub suggests that consumers are not exactly swimming in disposable income this year.
More than one in three Americans (34%) say their families are sitting out gift-giving this year because of inflation. And some may be wishing they skipped gifts last year, too; 24% of respondents said they’re still paying off debt from last year’s holiday shopping.
The survey polled a nationally representative sample of about 250 adults.
Americans express: To help with holiday shopping this year, 19% of Americans will—what could possibly go wrong?—apply for a new credit card.
Americans' credit card debt has reached a record $1.1 trillion, according to a recent report from the New York Fed—so, you know, why not apply for two new credit cards?
Consumers’ inflation malaise may impact not just retailers but also the Salvation Army officers ringing bells in front of their stores. Nearly half of Americans (47%) say that inflation is negatively impacting their charitable giving.
Social order: Retail executives who think TikTok is just the sound their Rolexes make may want to take a quick crash course, as the WalletHub survey revealed that 23% of Americans’ purchases will be influenced by something they saw on social media.—AAN