LendingTree® analyzed data from over 29,000 anonymized transactions to track spending habits of last-minute holiday shoppers in the week leading up to Christmas in 2019 to better understand what last-minute shoppers where buying and how much they were spending. Additionally, LendingTree will update the report to reflect 2020 trends for last-minute shoppers this Holiday season once the data is available.
Key Findings:
- Sporting goods and toys were at the top of last-minute shoppers’ lists in 2019. On Dec. 23 and Dec. 24, the number of sporting goods and toy shoppers were 194% and 193% higher, respectively, than the monthly average.
- Shoppers spent the most at outlet stores during the last-minute gift-buying rush. On Dec. 23 and Dec. 24, 2019, the average shopper spent $266 at outlet stores. Spending at jewelers and watchmakers was next, averaging $231 a purchase during the two-day period.
- Compared to average spending in December 2019, florists saw the biggest spending increase among last-minute shoppers. The average spent at florists on Dec. 23 and 24 was $219, more than twice the usual December spend of $97.
- The number of shoppers on Dec. 24 (a Tuesday) was up 20% compared to the other Tuesdays that month — the highest of any December day in 2019. Up next was Dec. 23 (a Monday), where the number of shoppers was up 10% compared to the other Mondays that month.
In an earlier survey, LendingTree found that while 25% of consumers already finished their holiday shopping as of October 2020, another 19% said that they typically wait until the last minute to shop. Additionally, nearly a third of consumers (31%) expect to go into holiday shopping debt this year. Among those who were laid off or furloughed because of the pandemic, 47% expect to go into holiday shopping debt compared to 18% of those who did not their income impacted this year.
For the full report and updated last-minute shopping data (which will be published after Christmas), please visit: https://www.lendingtree.com/debt-consolidation/lendingtree-holiday-spending-report/.
About LendingTree
LendingTree (NASDAQ: TREE) is the nation’s leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, refinances, auto loans, personal loans, business loans, student refinances, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring, customized recommendations to improve credit health, and notification when there are opportunities to save money. In short, LendingTree’s purpose is to help simplify financial decisions for life’s meaningful moments through choice, education and support. 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.
