Nearly eight out of 10 consumers (78 percent) overspend on holiday purchases, according to TD Bank’s (No. 39 on the Fair360, formerly DiversityInc Top 50 Companies list) Merry Money Holiday Spending Survey with the average shopper overspending by $215.
While more than half of TD’s survey respondents (52 percent) create a budget only 70 percent actually stick to it.
So what makes holiday shoppers blow their budgets Sixty-five percent say it’s all about finding the perfect gift, while 57 percent indulge in small impulse purchases such as stocking stuffers and holiday treats. Nearly half of all consumers (49 percent) also treat themselves while shopping, while one in four goes over budget on incidentals, like wrapping paper and gift cards.
