TDs survey of 1 000 Americans found that the average consumer will spend 530 on holiday shopping this year with the top gift categories being gift cards 28 percent technology gadgets 25 percent and clothes 19 percent Show Me the Rewards Money Despite the potential to earn rewards when shopping with a credit card most Americans plan to shop with a debit card 36 percent Fewer will use credit card 34 percent check 17 percent store branded credit card 7 percent and in-store financing options 4 percent Those who plan to finance all or some of their holiday shopping will do so with a bank-offered credit card 71 percent a store credit card 57 percent or a store-backed payment plan 39 percent Ninety-six percent of Americans who financed holiday shopping in the past paid it off within a year including 33 percent who paid it off immediately and 24 percent who paid it off within the first month after making a purchase Respondents were most likely to pursue financing for their holiday shopping if doing so offered them significant savings 61 percent Todays shoppers are more savvy with higher expectations than ever theyre comparison shopping engaging in retail loyalty programs searching for discount and coupon codes and taking advantage of financing programs that allow them to make budget-friendly payments over time says Matt Boss Head of Credit Cards and Unsecured Lending at TD Bank We also know that theyre leveraging credit cards to earn rewards for their purchases For retailers who offer consumers the option to complete a significant portion of their shopping in one place this is a smart strategy to appeal to penny-wise shoppers who like to earn some dollars back for their spending Have Yourself a Merry Little Shopping Experience In a world with an infinite number of options todays holiday shoppers are brand loyal and value variety and customization over anything else That said Millennials are more likely than Gen-X to stay loyal to the brands they favor year round during holiday time 45 percent vs 21 percent respectively The two most important features when deciding where to shop were variety of products 46 percent discounts offered 41 percent Holiday shoppers will take advantage of various retailers including online 80 percent big box stores 72 percent and local shops 53 percent The trends most likely to pique shoppers interests are customized coupons 37 percent discounts via geotargeting 35 percent and enhanced shopping atmospheres 22 percent Eighty-five percent of Americans are somewhat or completely loyal to the brands they shop all year around during the holidays Thirty-nine percent of shoppers have purchased an item from social media advertising Rewards programs help increase customer engagement who doesnt like receiving bonus incentives or perks for being a loyal customer continues Boss Further to that our data shows that holiday shoppers have financed responsibly in the past which has led retailers to offer increasingly innovative financing options that provide consumers with an enticing combination of savings and rewards on their holiday purchases Its a win-win from the customer point of view Rewards programs enhance a customers overall experience and increase their likelihood to shop at a retailer again and again long after the holiday shopping season has ended Survey Methodology The study was conducted among a nationally representative group of consumers from October 29 - November 1 2018 The sample size of 1 000 has a margin of error of 3 percent Data has been weighted by age gender and region to reflect the populations The survey was hosted by global research company MARU Matchbox About MARU Matchbox MARU Matchbox is a professional services firm dedicated to improving its clients business outcomes It delivers its services through teams of sector-specific research consultants specializing in the use of Insight Community and Voice of Market technology About TD Bank Americas Most Convenient Bank TD Bank Americas Most Convenient Bank is one of the 10 largest banks in the US providing more than 9 million customers with a full range of retail small business and commercial banking products and services at more than 1 200 convenient locations throughout the Northeast Mid-Atlantic Metro DC the Carolinas and Florida In addition TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth and vehicle financing and dealer commercial services through TD Auto Finance TD Bank is headquartered in Cherry Hill NJ To learn more visit wwwtdbankcom Find TD Bank on Facebook at wwwfacebookcom TDBank and on Twitter at wwwtwittercom TDBank_US TD Bank Americas Most Convenient Bank is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto Canada a top 10 financial services company in North America The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol TD To learn more visit wwwtdcom SOURCE TD Bank