PriceGrabber survey: 52% of consumers to spend $500 or more on holiday gifts
Los Angeles -- Fifty-two percent of consumers plan to spend $500 or more on gifts this season, according to a new survey by PriceGrabber, a part of Experian. Thirty-six percent said they will spend less than $500, and 12% indicated that they do not have a budget.
Other key findings of the survey, conducted from Sept. 7-15, 2011, include:
Consumers overwhelmingly chose clothing as the most popular holiday gift purchase (chosen by 66%), followed by gift cards (52%), books, CDs, DVDs or videogames (46%) and toys (43%).
Tablets were the most popular choice of those respondents who selected electronic products as holiday gifts, followed by iPods or MP3players.
When asked when they believe the best deals will be available for holiday shopping, 29% of consumers said after the Thanksgiving holiday, and 28% said Black Friday specifically.