Austin, Texas – More than nine-in-10 (91%) holiday shoppers admit to overspending on presents, according to a new survey from RetailMeNot, with 60% of overspenders saying they do so because they thought giving a gift the person would love was worth the extra money.
In addition, men are more likely to overspend on winter holiday gifts for their significant other than women are (50% compared to 34%). Women are more likely than men to overspend on their children (32% compared to 22%). However, more than one in 10 (14%) winter holiday gift givers overspent because they waited until the last minute and had to pay extra. During the winter holiday season, family members are the most likely to be overspent on, including significant others (44%), children (29%) and mothers (26%), while bosses/co-workers (1%) are the least likely to be overspent on.
Furthermore, 90% of 1,006 adult U.S. respondents surveyed indicated that they intend to shop for winter holiday gifts and plan to spend an average of $167 per person.