Low Holiday Debt Load Bolsters Consumer Confidence Heading Into 2014
by: Andrew Schneider, January 20, 2014 5:01:00 am
The Omnibus Company conducted the survey, polling more than 1,000 people from across the country and across all demographics. Trae Bodge is senior editor for RetailMeNot.
“We were really delighted to see that almost seven in ten consumers feel really good about 2014 — that it will have great earning potential, great saving potential, and also, we will have the ability to buy the things we need this year.”
Nearly 60% of those polled said they’re entering the year free of holiday debt — though Bodge says there are still some people starting 2014 with a spending hangover.
“Fifteen percent of people are carrying forward about $500-plus in debt. About 10% are carrying forward $1,000-plus in debt. So we definitely have some work to do.”
Parents carried over almost twice as much debt from the 2013 holiday season compared to shoppers without children. But the survey also found parents were more likely to pay for gifts using cash or debit cards.