American Express' New Holiday Survey - 66% Yet to Finish Shopping

New Holiday Shopping Survey Reveals Consumers Plan to Shop Later and Party into the New Year

NEW YORK--(BUSINESS WIRE)--As the clock winds down on the final holiday shopping dash, a new survey from American Express (NYSE: AXP) reveals that 66 percent of consumers have yet to finish their holiday shopping and that holiday festivities will spur spending among partygoers in a variety of ways--from party primping expenses to purchasing hostess gifts.



The latest American Express Spending & Saving Tracker, the fourth in a monthly series, reports about consumers’ views on the economy, what they plan to spend on and what motivates them to spend or save. The research sample of 2,005 adults included the general U.S. population¹, as well as two subgroups – the affluent² and young professionals³.

Shopping Later

Less than a month away from Christmas, the majority of shoppers say they have yet to finish their holiday shopping. In fact, more than one-in-five (21%) will still be shopping for gifts the week leading into Christmas and a small but surprising four percent of consumers expect to be standing on checkout lines as late as Christmas Eve. However, according to the survey data, these consumers are not necessarily procrastinating; while some are in fact time-strapped (18%), many are practicing savvy shopping tactics, specifically:

• Thirty-one percent are holding out for the best deals


• Almost one in five consumers (19%) is still saving money for holiday gifts before they can purchase them


• Eleven percent will wait to use their last paycheck


• A staggering 10 percent of shoppers indicated that they are waiting for post-holiday sales to buy presents for those on their lists this year


• Five percent of the general population, and 12 percent of young professionals, are holding out for an end-of-year bonus

Consumers who are expecting to spend more (32%) or the same (33%) in the next 30 days than in the previous 30 days will do so primarily on holiday gift purchases. They attribute the expected spending increase to:

• Decreases in prices (22%)


• Making trade-offs with other expenses (21%)


• Having finally saved enough money to afford items (20%)

“It’s clear from this survey that there is still a lot of shopping and spending that will take place between now and end of year,” said Pamela Codispoti, American Express senior vice president and general manager, Cardmember Services. “The survey data shows that consumers will be spending on holiday gifts for loved ones and on celebrating with friends and family, but they are focused on doing that in very smart and savvy ways this year.”

Party-Driven Spending

Through New Year’s Eve, festivities will be in full swing. Seven in ten (69%) consumers plan to celebrate with friends or family and 90 percent intend to make purchases tied to these occasions. Specifically, among the affluents and young professionals group, an average of $750 and $470, respectively, will be spent on purchases related to holiday festivities such as food and spirits.

But, party prepping will also drive spending. More than one-fourth (27%) of the general population and 54 percent of young professionals intend to spend on primping themselves for these holiday gatherings.

• Almost half (44%) of young professionals plan to buy a new outfit to wear to a holiday party.


• Affluents and young professionals especially intend to put their best foot forward, with 24 percent and 31 percent, respectively, intending to get their nails or hair done.

With almost half (45%) of consumers planning to attend holiday parties, a token of appreciation for holiday hosts will be in order. Sixty-eight percent of partygoers expect to buy a hostess gift and spend on average $35; however, a sizeable 26 percent of partygoers plan to show up empty-handed.

Showing up without a hostess gift is fine with 21 percent of the general population, but young professionals want to receive a gift with only seven percent saying they don’t want anything.

The most popular gifts consumers usually receive from guests is food (43%) and beverages (38%) to serve at the party, which happen to be the top two choices for what people really want when hosting. Gifts for the home or kitchen also seem to be safe with 17 percent of consumers wanting them. However, once guests deviate to other items, they sometimes lean towards gifts that their hosts may not appreciate as much.

• Don’t bring the sweets: More than one-fourth (26%) of gifts received by hosts fall into the category of chocolates, cookies and candies – but only eight percent of those opening their doors say that this is what they would most like to receive.


• Let the host do their own decorating: Holiday gifts or decorations, such as ornaments, account for 14 percent of what hosts receive from their guests, yet a mere four percent name this as a gift they would most like to receive.

The American Express Spending & Saving Tracker research was completed online among a random sample of consumers aged 18+. The research sample of 2,005 adults surveyed the general U.S. population, as well as two sub-groups – the affluent and young professionals. Interviewing was conducted by Echo Research between November 25 and December 1, 2009. Overall, the results have a margin of error of +/- 2.2 (or +/- 4.0 among affluent and +/- 4.3 among young professionals) percentage points at the 95% level of confidence. For access to previous American Express Spending & Saving Tracker results, please visit www.americanexpress.com/aboutus.

About American Express

American Express Company (www.americanexpress.com) is a leading global payments, network and travel company founded in 1850.

¹ The research was conducted online November 25 – December 1, 2009 among a random sample of 2,005 adults aged 18 and older.

² Affluent - defined as having a minimum annual household income of $100,000.

³ Young Professional - defined as less than 30 years of age, having a college degree, and a minimum annual household income of $50,000.