MIAMI—How have consumers handled the holiday shopping season?
According to WalletHub, most spent more than they expected.
WalletHub conducted a nationally online survey to see how consumers fared this past month, adding that holiday shopping is not over.
“Many people have unwanted gifts they’d like to return, which can lead to more shopping plus a fair amount of frustration,” WalletHub said.
Here are the key findings from WalletHub’s report.
- Inflation's Impact on Holiday Spending: More than two in three people say inflation affected their holiday spending more than they anticipated
- Lingering Holiday Bills: 24% of Americans say they will need more than 6 months to pay off their holiday shopping debt
- Holiday Overspending: Nearly two in five Americans say they spent too much during the holidays
- Cash for Gifts: 54% of Americans say they would rather have cash instead of all the gifts they received for the holidays
- Buyer's Remorse: Nearly one in four people say they regret some of their holiday purchases
- Budgeting Plans: 56% of people plan to follow a strict budget in January