Americans plan to save money ahead of holiday shopping season: Survey

Americans plan to save money ahead of holiday shopping season: Survey

With holiday season 2022 around the corner, people have already started saving amid rising costs.

According to a recent Bankrate survey, 2 out of 5 (40%) respondents said inflation will change the way they shop for the holidays this year.

84% of holiday shoppers questioned in the survey said they would try to save money this year.

40% of them said they'd be buying lesser items and 21% said they would purchase gifts from cheaper brands.

About 40% also said they would be looking for coupons, sales and other discounts for their gift shopping.

17% of holiday shoppers said they would be making Do-It-Yourself gifts, while 11% said they’d be gifting used or secondhand items.

A 13.5% rise in grocery store prices is expected to make holiday dinner items more expensive this year.

The price of apparel has also surged 5.2% over the years.