More than half (57%) of consumers identify autumn clothing as the category they will spend the most on this season, according to the Fall Shopping Survey from Discover Card.
The survey explored consumer purchasing plans for the upcoming autumn (fall) season, and found that 31% of consumers plan to spend US$300 or more on essential fall items such as clothing, home decor, home office and school supplies, while 16% plan to spend $500 or more.
Discover's cash-back bonus
When asked what they liked least about fall shopping, 22% cited difficulties staying within their budget, while 20% said they purchase more than they need.
To help cardmembers manage their purchases this year, Discover Card's Get Set for Fall programme is offering them a 5% cash-back bonus from July through until the end of September 2006 at retail partners throughout the US. These savings can then be applied to tuition, from pre-school through to college.
The survey also revealed trends regarding popular product categories, preferred payment methods and overall attitudes regarding fall shopping, including:
- School supplies will be the second most popular purchase after clothing, with 15% of consumers saying they will spend the majority of their fall funds on back-to-school gear. Within the group of respondents who have children, this figure jumps to 26%.
- Sixty-eight percent of consumers surveyed will pay for their fall purchases with cash or cheques, while 31% will use credit cards. Sixteen percent plan to use their credit card rewards to pay for purchases.
- When asked what they liked most about fall shopping, 27% of consumers cited simply getting it over and done with. Within the group of respondents that have children, 30% said what they liked most is getting their children ready for the school year.
- Tuition continues to be a significant expense in the fall, and one that's rising - 62% of consumers said the cost is going up or skyrocketing.
- Almost 40% of adults in households with a child under 18 said that a simple, polite request from children is the single best way to get parents to spend more.
- 30% of adults in households with a child under 18 ranked bartering for chores, good grades and improved behaviours as the most successful tactics children employ when trying to persuade them to spend more.