CHARLOTTE, N.C., Nov. 28, 2016 /PRNewswire/
-- LendingTree®, the nation's leading online loan
marketplace, recently conducted its second annual Holiday Shopping
Survey among 1,062 American adults and found that once again, more
than half of Americans plan to shop for the holidays without
a set budget. With more 43 percent admitting to having some form of
financial regret after holiday shopping, some consumers may be
facing more debt in the new year.
According to the survey, 27.02 percent of American's were
saddled with holiday-related debt in the first few months of 2016,
and 4.6 percent are still paying off last year's shopping debt.
However, this is an overall improvement from last year, where
almost 31 percent welcomed the new year with holiday shopping
debt.
Additionally, 21.1 percent of consumers say they will be
shopping less in physical stores this holiday season, opting for
more online options. This is an increase from the 17.7 percent of
survey respondents who said they planned to shop less in physical
stores in the 2015 holiday shopping survey.
Mobile apps and 'Cyber Monday' promotions are also gaining
popularity with holiday shoppers. Approximately 43 percent of
consumers surveyed plan to use a mobile shopping app for at least
part of their holiday purchases, which represents a 15.6 percent
increase from last year. The deals and promotions available only
for today, also known as Cyber Monday, is enticing 31.3 percent to
shop online, which is an increase from the 26.11 percent who
planned to do so last year.
Roughly two out of three shoppers (66.1%) estimate they will
spend, in total, $500 or less on
gifts during this holiday season. This represents a slight increase
from the 64 percent who planned to do the same last year.
However, Americans seem to be more financially secure since
10.83 percent said they expect to spend more money overall on
holiday gifts this year compared to 2015. In comparison, only
8.24 percent expected to spend more money on gifts in 2015 compared
to the 2014 holiday season.
Methodology
The 2016 LendingTree U.S. Holiday Shopping Survey was conducted
online within the United States by
SurveyMonkey on behalf of LendingTree between November 2 and November 10, 2016 among a
nationally representative sample of 1,062 Americans aged 18 and
up.
About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online loan
marketplace, empowering consumers as they comparison-shop across a
full suite of loan and credit-based offerings. LendingTree
provides an online marketplace which connects consumers with
multiple lenders that compete for their business, as well as an
array of online tools and information to help consumers find the
best loan. Since inception, LendingTree has facilitated more than
55 million loan requests. LendingTree provides free monthly credit
scores through My LendingTree and access to its network
of over 350 lenders offering home loans, personal loans, credit
cards, student loans, personal loans, business loans, home equity
loans/lines of credit, auto loans and more. LendingTree, LLC is a
subsidiary of LendingTree, Inc. For more information go
to www.lendingtree.com, dial 800-555-TREE, like
our Facebook page and/or follow us on
Twitter @LendingTree.
MEDIA CONTACT:
Megan Greuling
704-943-8208
Megan.Greuling@LendingTree.com
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SOURCE LendingTree