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BizReport : Ecommerce : November 01, 2013

Discover: Look for spending increases over the holiday season

Quite of bit of cash will change hands over the upcoming 2013 holiday season, according to new data out from Discover. Their 2013 Holiday Shopping Survey indicates that not only with shoppers spend more over the holiday season, but many will change how - and where - they spend holiday money.

by Kristina Knight

According to the report about half of Americans plan to spend between $500 and $5,000 this holiday season; in 2012 only 40% said they would spend that much. But the big news is how these shoppers plan to spend. Most (84%) say they will shop both online and offline this year while half will use mobiles to compare pricing and about one-third will use a mobile wallet to speed things up at the checkout point.

Other interesting findings from the report include:

• On average holiday spending is expected to increase 20%
• 52% say they will budget for the holidays
• 44% say they'll watch retailer sales/promotions to save over the holidays
• 55% say they will pay cash for gifts while 29% say they'll finance the holidays with credit cards

Meanwhile, in September, Discover's US Spending Monitor shows that overall economic confidence was up even though spending declined slightly. However, many are still hedging their bets. According to the report:

• 43% say they have money left over after paying bills
• About one-third of both men and women say their personal finances are good or excellent
• 10% say they may spend more on discretionary items like eating out while 14% say they will spend more on 'major purchases' like vacations

Tags: 2013 holiday spending 2013 ecommerce trends, Discover, ecommerce trends

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