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RedFlagDeals.com Black Friday/Boxing Day Spending Survey Highlights

RedFlagDeals.com Black Friday/Boxing Day Spending Survey Highlights

By Kate Musgrove

October 28 through November 1, RedFlagDeals.com ran a quick survey to get a sense of what our readers were spending around Black Friday and Boxing Day -- and if that number had changed from a few months ago. We were lucky enough to get 1,536 responses and we've shared some highlights below.

Question: How much do you plan to spend on Holiday Shopping and Entertaining in 2022?

34.10% of our respondents said between $100-$500 and another 34.24% said between $501-$1,000. Only 7.53% is planning on spending more than $2,000.

Question: In general, do you plan to spend more or less on Holiday Shopping in 2022 (compared to 2021)?

40.11% said they'd spend more this year and 59.89% said they would spend less.

Question: Do you plan to purchase gifts during Black Friday/Cyber Monday?

A whopping 86.84% of our respondents said yes!

Question: Have your holiday spending plans changed in the last three months?

42.21% of our respondents said no, 43.47% said yes, I am now planning on spending LESS and 14.31% said yes, I am now planning on spending MORE.

Question: If your holiday spending plans have changed, what factors played a part? (Select all that apply.)

  • My income has dropped/I have experienced loss of employment - 13.74%
  • Retail prices have increased - 70.94%
  • My household bills have increased - 48.54%
  • Fuel costs have increased - 49.63%
  • I am concerned about rising mortgage costs due to increasing interest rates - 33.31%
  • I have variable-rate loans, other than a mortgage, that I am worried about - 11.91%
  • I want to focus on saving - 36.22%
  • I am concerned about economic instability and the possibility of inflation - 48.29%
  • I am concerned about political instability - 16.07%

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      • My income has dropped/I have experienced loss of employment - 13.74%
      • Retail prices have increased - 70.94%
      • My household bills have increased - 48.54%
      • Fuel costs have increased - 49.63%
      • I am concerned about rising mortgage costs due to increasing interest rates - 33.31%
      • I have variable-rate loans, other than a mortgage, that I am worried about - 11.91%
      • I want to focus on saving - 36.22%
      • I am concerned about economic instability and the possibility of inflation - 48.29%
      • I am concerned about political instability - 16.07%

      Percentages weren't listed in your initial post. Interesting results but not surprising with fuel and retail prices being major factors. I thought mortgage costs would play a larger role, maybe 40%.
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