Over half of Americans have spent $100 or more on an impulse buy (54%), according to a new CreditCards.com report, including 20% who have spent at least $1,000. In total, 84% of Americans have made impulse purchases.
I am betting you are not shocked! I know I wasn’t.
The most common recipient of an impulse buy is one’s self (47%), followed by 21% who cited a child and 16% who said their spouse or significant other.
With a volatile economy, Americans are spending more cautiously.”
- Millennials are the most likely to make an impulse purchase for themselves, 30-49 year-olds are the most likely to do so for a child and 65+ year-olds are the most likely to impulse buy for their spouse or significant other.
- 1 in 5 seniors say they have never made an impulse purchase, more than any other age group. Just 8% of people under age 50 have never made an impulse purchase.
- Only 7% of millennials made most of their impulse buys on a smartphone or tablet, which is shockingly low for a generation that is known to be tech savvy.
- One-third of those who make $75,000+ have made an impulse purchase of $1,000 or more, making them the highest spenders of the survey.
Interesting food for thought.
The survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:http://www.creditcards.com/credit-card-news/impulse-buy-survey.php