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54% of US adults made at least one impulse purchase this past holiday season
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54% of US adults made at least one impulse purchase this past holiday season

Even if they’ve made a list and checked it twice, that’s not stopping many Americans from doing some emergency shopping during the winter holidays. More than half (54 percent) of U.S. adults made at least one unplanned/impulse purchase this past holiday season, according to Bankrate’s new impulse buying survey.

Budgeting before the holiday season instead of impulse spending is a smart way to do this save money. But sometimes, a Black Friday sale is just too hard to resist. Bankrate data shows who’s hitting the stores during the holidays and why they’re spending that extra cash.



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<p>I’m a big believer in planning ahead for the holidays. For example, you probably have four or five paychecks between now and the end of the year. Set aside money from each of them to build a vacation fund.</p>
</blockquote>
<p><cite>— Ted Rossman, Bankrate Senior Analyst</cite></p>
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I’m a big believer in planning ahead for the holidays. For example, you probably have four or five paychecks between now and the end of the year. Set aside money from each of them to build a vacation fund.

—Ted Rossman, Bankrate Senior Analyst

Bankrate’s Key Findings on Holiday Impulse Shopping

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Impulse purchases were common last year

54% of US adults made at least one impulse purchase this past holiday season.

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Impulse shoppers don’t always treat themselves

31% of people say they made an unplanned or impulse purchase for a family member this past holiday season. In comparison, 28% made an unplanned or impulse purchase for themselves; 15% made one for friends; 5% did one for knowledge; and 5% made one for someone else.

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A good deal tends to lead to impulse buying

When asked what inspired their unplanned or impulse purchases last year, 44 percent of shoppers say they thought the purchase was a good deal or that it was on sale. Others say it made a good holiday gift for someone else (38%); they wanted to treat themselves (29%); was something they had previously considered buying (27%); or was inspired by social media posts (22%).

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Younger adults are most likely to make impulse holiday purchases

Even if you usually wait before making a big purchase, find the perfect one gift because one can make impulse purchases too hard to resist. Nearly one-third (31 percent) of Americans have made an unplanned/impulse purchase for their family members; 15 percent made one for friends; and 5 percent did one for knowledge.

Around a quarter (28%) of people have made an unplanned/impulse purchase for themselves:

Source: Bank Rate Survey, Sept. 30, 2024-Oct. 2, 2024
Note: Respondents could select more than one answer.

Overall, younger Americans were more likely than older Americans to have made an unplanned/impulse purchase this past holiday season:

  • Gen Zers (ages 18-27): 70 percent

  • Millennials (ages 28-43): 65 percent

  • Gen Xers (ages 44-59): 50 percent

  • Baby Boomers (ages 60-78): 41 percent

That’s not all: Young Americans were also more likely than older generations to have made an unplanned/impulse purchase for themselves:

  • Gen Zers: 44 percent

  • Millennials: 39 percent

  • Gen Xers: 24 percent

  • baby boomers: 12 percent

More than two-thirds (69 percent) of parents of children under 18 made an unplanned/impulse purchase this past holiday season – compared to 48 percent of parents of adult children and 54 percent of non-parents.

Additionally, people reporting a household income of $50,000 or more were more likely to have made an unplanned/impulse purchase this past holiday season compared to those below that income threshold:

  • Less than $50,000 per year: 49 percent

  • $50,000-$79,999: 61 percent

  • $80,000-$99,999: 65 percent

  • $100,000 per year or more: 62 percent

While impulse purchases are common, that doesn’t mean Americans aren’t trying to be careful with their holiday spending. As of early August 2024, about half (48%) of holiday shoppers said they plan to start holiday shopping before the end of October, according to the data. Bankrate’s early holiday shopping survey. One-third (33 percent) of holiday shoppers plan to spend less on holiday shopping than last year.

We asked: When did you start or plan to start your winter holiday shopping (for gifts, decorations, etc.) this year?

By the end of August

12%

September

13%

October

24%

November

37%

December

15%

Impulse shoppers often buy something just because it’s a good deal

A large part of Americans were looking for deals the last holiday season. More than 2 in 5 (44%) people who made an unplanned/impulse purchase last holiday season bought it because they thought it was a good deal or because it was on sale. Others thought it was a good gift for someone else (38 percent), wanted to treat themselves (29 percent), or the purchase was something they had previously considered buying (27 percent):

Source: Bank Rate Survey, Sept. 30, 2024-Oct. 2, 2024
Notes: Respondents could select more than one answer. Responses are from US adults who made at least one unplanned/impulse purchase this past holiday season.

Social media is influencing the holiday shopping of many younger Americans

Nearly 1 in 4 (22%) people who made unplanned/impulse purchases last holiday season were influenced by social media in some way:

  • Influenced by posts from brands/advertisers: 13 percent

  • Influenced by posts from influencers: 10 percent

  • Influenced by posts from friends/family/acquaintances: 10 percent

A small percentage (7 percent) were influenced to make an unplanned/impulse purchase by other advertisements such as TV, radio, online ads, or billboards.

Perhaps unsurprisingly, Gen Zers are the most likely generation (36%) to say they were inspired to make an unplanned/impulse purchase by social media, followed by Millennials (31%), Gen Xers (14%) and Baby Boomers (6%). .

The bottom line

Whether you’re buying a treat for yourself or loading up on gifts for the family, it’s always possible to be intentional about your holiday spending. To stay on track, Bankrate Senior Industry Analyst Ted Rossman advises people to budget ahead of time for any potential impulse purchases.

“If you have money set aside for this, you have more freedom to spend without going overboard or incurring expensive costs. credit card debtRossman says.

Another frugal tip to consider is taking advantage of unused gift cards. Conformable Bankrate Gift Card Survey34% of Americans have lost money through a gift card misstep, such as losing the card or letting it expire. Browse through your old gift cards; you might be surprised at what you find.

“Nearly half of Americans have at least one of these, and among them, the average is $244. Finding and using old gift cards is a great way to treat yourself or someone else,” says Rossman.

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How to manage financial stress this holiday season

Does the thought of holiday shopping give you a cold sweat? Bankrate has the latest guide to help you navigate the holiday season on a budget.

Read more

  • Methodology

    Impulse Shopping Survey: All figures, unless otherwise stated, are from YouGov Plc. The total sample size was 2,453 adults, including 1,346 who made at least one unplanned/impulse purchase this past holiday season. The field works were undertaken between September 30, 2024-Oct. 2, 2024. The survey was conducted online and meets rigorous quality standards. It used a non-probability sample, using both initial quotas during collection and then a weighting scheme at the end, designed and proven to provide nationally representative results.

    Holiday Shopping Survey: The total sample size was 2,300 adults, of which 1,789 planned to shop for the holidays. Fieldwork was carried out between August 5-7, 2024.

    Unused Gift Cards Survey: The total sample size was 2,373 adults. Field work was undertaken between August 19-21, 2024.