What Holiday Shopping Reveals About Money & Gender: CardRatings Survey [Dec 15, 2021]

Findings Include Five Highly Effective Vacation Buying Habits And Why Women Are Better At They

Foster City, California – December 15, 2021 – A survey of CardRatings.com finds that the way people approach holiday shopping is strongly linked to the strength or weakness of their household finances. It also shows that women feel more pressure when it comes to shopping for the holidays, but that pressure can be a good thing – their approach tends to be more financially responsible than that of men.

The full survey analysis is available in a pair of articles on CardRatings.com:

5 Habits of Highly Effective Vacation Buyers

Women are smarter vacation buyers but feel more pressure.

The survey groups respondents by credit rating, ranging from poor to excellent. He finds key differences in the way these groups approach holiday shopping:

  • While many feel pressured to spend more than they can afford while on vacation, people with poor credit are more likely to feel this burden. In fact, 45% of survey respondents with bad credit feel pressured to spend more than they can comfortably afford, compared to just 17% of those with excellent credit.

  • Last minute shopping can contribute to poor spending decisions, and people with poor credit are twice as likely as those with great credit to postpone their holiday shopping until the end of the season.

  • People with excellent credit know how to use it to their advantage. Some 86% of this group plan to pay off their card balance in full by the end of the next billing cycle.

“Good holiday shopping habits and good credit go hand in hand,” says Brooklyn Lowery, editorial director and credit card analyst for CardRatings.com. “Good credit makes credit cards cheaper to use, and having more for the money helps maintain good credit.”

Women, in particular, seem to have mastered the art of effective holiday shopping. The survey reveals key differences in the way men and women approach the task:

  • Although they feel pressured to spend more, a higher percentage of women than men actually plan to spend less on Christmas gifts this year.

  • Women are adept at distributing their gifts profitably. While men generally spend more in total on holiday gifts, women give gifts to more people.

  • Women are more likely than men to avoid the pressure of last minute purchases. A greater percentage of women than men start shopping for the holiday season before December, and more women say they are opportunistic to buy gifts as they see them throughout the year.

  • Debit cards are most often cited by women as their primary means of paying for Christmas gifts, while credit cards are the number one choice for men. This makes women more likely to avoid interest charges, although it also means they might miss out on the rewards and protections that credit cards offer.

“Gender doesn’t have to determine how you approach holiday shopping,” says Lowery. “Both women and men are capable of adopting responsible financial habits – or falling into bad ones. The key for anyone, regardless of gender or credit rating, is to plan their giving well and stay on budget. ”

The survey was designed and analyzed by CardRatings.com and conducted by Op4G. He interviewed 1,001 American adults, including 515 women and 486 men.

About CardRatings
CardRatings is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance market technologies and services to the financial and home service industries. QuinStreet is a pioneer in providing online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. CardRatings is a member of QuinStreet’s expert research and publishing division.

CardRatings has innovated in online credit card ratings and has been offering independent ratings and reviews of credit card offers since 1998. The website collects and maintains data on over 700 credit card offers and compiles carefully objective lists of the best credit cards by card type, making it easy for consumers to find the right card to meet their needs. Subscribe to the bimonthly newsletter here.

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Charlene Arsenault
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