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Holiday spending jumps
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January 3, 2000: 3:47 p.m. ET
Study shows consumers spent 27% more than expected this Christmas
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NEW YORK (CNNfn) - Last minute shoppers were in the majority this holiday season and helped give holiday sales a big boost, according to a study released Monday.
The International Mass Retail Assn. said consumers spent 27 percent more than planned on holiday gifts for a total of $1,067 per family. That was 10 percent over last year’s figure of $964.
The survey, conducted Dec. 27-29, follows an earlier study by the Arlington, Va.-based association in October that said consumers expected to spend $840 per family on gifts.
"It seems that last minute shopping helped push sales up beyond the expectations of consumers," IMRA President Robert J. Verdisco said.
The survey found 60 percent of consumers were still shopping for gifts in the final week before Christmas, with 23 percent finishing on Christmas Eve.
Men were more likely than women to be shopping on Christmas Eve, with 28 percent of male consumers doing the last-minute mambo compared with 19 percent of females.
Most young people also finished shopping on Christmas Eve. Verdisco said this might be because young people were waiting to shop until they returned home from college or received their Christmas bonuses.
Men were the big holiday spenders this year, shelling out on average $1,148 compared with $992 by women.
"This is a trend we see continuing for holidays throughout the year,” Verdisco said. "Last year, men outspent women on every holiday — Valentine’s Day, Easter, Mother’s Day, Father’s Day and Halloween.”
Take that back!
The survey said one-third of consumers returned or planned to return gifts. Nearly all of those returning gifts said they were bringing back just a few, from one to three, and younger Americans between ages 18 and 24 were most likely to return gifts this year.
"Sales figures will be released this Thursday,” Verdisco said, "and we expect to see strong sales, especially for discounters.”
Thirty-four percent of consumers said they had their best shopping experience at discount department stores, followed by 26 percent at department stores and 8 percent at specialty stores.
Among other findings, the survey said nearly 10 percent of all baby boomers, aged 35-44, ranked Internet shopping as one of their best shopping experiences.
Midwest consumers were most likely to enjoy Internet shopping, while those in the Northeast were more likely to have their best experiences at an outlet store. Northeasterners also were most likely to return a few gifts. 
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