LendingTree Holiday Spending Report Analyzes Last-Minute Shopper Trends
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.
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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.
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