November 25, 2014

Shoppers Are Budget Savvy This Holiday Season

Discover Survey Shows Most Shoppers Plan to Use Credit Card Rewards and Buy on a Budget

RIVERWOODS, Ill.--(BUSINESS WIRE)--Nov. 25, 2014-- Shoppers will enter this holiday season spending more money, while staying more disciplined, according to a recent independent poll commissioned by Discover. More than half of shoppers, 57 percent, plan to have a budget in place for holiday purchases, up from 52 percent in 2013. Forty percent plan to use credit cards for most of their gift purchases, and among those, 87 percent will use different credit cards depending on preferred rewards offers, up from 76 percent in 2013.

Be Merry and Very Faithful to a Budget

Consumers overall plan to stick within a budget, but are planning to spend more than in years past. Thirty percent of shoppers said they plan to spend more, up from 23 percent in 2011.

Of those planning to spend more, 49 percent attribute the increase to having more people to buy gifts for, and 32 percent cited getting a raise or a new job. Among those shoppers who have or plan to set a budget, roughly half are planning to spend less than $500.

Spread Holiday Cheer with Cash Rewards at the End of the Year

The use of credit cards is on the rise. Forty percent of shoppers plan to use credit cards for most of their shopping above any other type of payment method, which is up from 29 percent in 2013.

The majority of people using credit cards, 55 percent, cited rewards as the biggest reason for doing so. Cash and retailer-specific were the most commonly cited favorites.

Cyber Monday Shopping Doubles

This year, 18 percent of shoppers plan to do the majority of their gift shopping on Cyber Monday, up 100 percent from 2012.

Consumers continue to consider mobile devices more as a shopping aide rather than a primary means of buying gifts. When asked how they would use their smartphones for holiday shopping, the most commonly reported use was to compare prices while shopping in-store, 46 percent, followed by using them to search for product reviews at 38 percent.

The national survey of 1,504 consumers was commissioned by Discover and conducted by uSamp, an independent survey research firm (, from October 28November 4, 2014.

For more information see our holiday survey video

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. It operates the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit

Source: Discover Financial Services

Jenna DiMaria, 224-405-3808