Of women who plan to spend more this holiday season, one quarter will do so because they have saved properly to spend more this year. For those spending less, most say it’s because they have less disposable income than year’s past.
So, where will those hard-earned dollars be going this year?
• The majority of women plan to donate to charity over the December holiday (73%)
• Most (46%) plan to give $100-$499 to charity
• Most women (48%) plan to stay at home
• Of those who are planning to travel, most are doing so to see family
• The most commonly reporter budget range for holiday travel costs is $100-$499, though over half of women traveling will spend upwards of $500
• 59% of women plan to spend $500 or more on holiday gifts
• 41% plan to limit themselves to an under-$500 budget
• 94% are not planning on making a ‘major’ holiday purchase this year (car, jewelry, etc.)
• More than any other product category, 58% plan to buy electronics
• Women are much more likely to purchase something made in America now than before the economic crisis*
Christmas Clubs & Layaway
• 10% of women still contribute to a ‘Christmas Club’ or dedicated holiday spending savings account; 90% do not
• 94% will not use layaway services
Taking on Debt
• The vast majority of women are not willing to take on debt for holiday spending
• Most women still plan to cook for their Thanksgiving meal, and spend $50-$99
• 69% are not planning on traveling
• 72% of women do not plan to go shopping on Black Friday, compared to 79% of men
New Year’s Eve
• 91% of women will spend less than $200 on New Year’s Eve celebrations, with most costs going toward food
The research is based upon Spectrem’s Millionaire Corner monthly research with investors. It includes responses from approximately 1,400 households per month which are proportionately allocated among wealth segments used in the analysis.