Shoppers Gear Up For Holiday Deals

Tuesday, November 22nd, 2016

Holiday shopping seems to start earlier every year, but this year more than half of people surveyed by Synchrony Financial said they would head to the stores even earlier, in order to find good discounts and spread out their spending over a longer period of time.

The Annual Holiday Shopping Study found that 55% of folks feel more optimistic about money this year compared to last year, and report that their household’s financial situation is improved over what it was one year ago.

This year, 34% of those surveyed said they would spend more than they did last year. In the previous year’s survey that percentage was a little lower, with 32% planning to spend more. When asked what was driving them to spend more this year, 45% said their personal financial situation had improved this year and that also, their shopping lists were longer.

Holiday sales expected to rise, but shoppers are still cautious

Synchrony Financial predicts a holiday sales spike of somewhere between 3.6% and 4% this year, and shoppers say they are seeking discounts and watching their wallets in spite of planning to spend more than last year.

Eighty-five percent of holiday shoppers said they would look for sales, and 59% said they’d keep to a holiday shopping budget. Last year only 53% said they’d be making out a special holiday budget. But folks also said they were nervous about setting a budget, as they weren’t sure they could really manage to stick to it when other unexpected holiday expenses popped up.

Bart Schaller, executive vice president and chief marketing officer at Synchrony, said that even though customer confidence was up, “caution overrides personal optimism, and shoppers tell us they’re carefully planning, pacing and prioritizing their holiday purchases to stay on schedule and on budget.”

The day after Thanksgiving (Black Friday, as it’s known) is the traditional day to start holiday shopping, but 28% of those surveyed said they buy presents throughout the entire year. Forty-two percent said they’d start shopping before Black Friday.

As far as payment method, 66% of shoppers said they’d be putting their purchases on a credit card, and in particular a rewards credit card. There are rewards cards available for all levels of creditworthiness.

Latest Fair Credit Credit Card News

Friday, July 8th, 2016
Everyone knows it’s important to have money saved up in case of emergency, but just because something is common knowledge—and common sense—that doesn’t mean people necessarily ...
Monday, February 29th, 2016
The uptick in the American economy is good news for people seeking lines of credit. While the recent Federal Reserve interest rate some people saw hike as bad news, it’s actually ...
Tuesday, September 29th, 2015
Four in five people don’t know that carrying a high balance on their credit cards can hurt their credit rating, even if they never miss a payment due date.
Friday, May 16th, 2014
Today many credit card offers claim to have the best rates and benefits, but when it comes to finding the best one for your financial needs, you should read the fine print. It is ...
Tuesday, December 25th, 2012
Nowadays, to avoid fraud you should be on the alert all year round and especially on the holiday shopping season. It’s not just the season for fraud when shoppers frantically ...
Best Credit Offer
Click the Compare link to compare the checked cards side-by-side at the comparison table.
Consumer Rating: 4 / 5
Pacific Credit Group Emporium Black Card
Copyright © 2001-2016 BestCreditOffers.com All Rights Reserved.

* The BestCreditOffers.com.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. BestCreditOffers.com.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the BestCreditOffers.com.com website are property of their respective owners.

BestCreditOffers.com makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that BestCreditOffers.com may be compensated by the credit card issuers when the readers apply for a credit card through this site.

BestCreditOffers.com is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. BestCreditOffers.com does not review or list all available financial or credit offers.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.