After dragging their feet for weeks, consumers have apparently gotten in the holiday shopping spirit at the last minute, according to a survey by CNBC.
The survey found that average amount consumers plan to spend has surged to $935, up $200 from $735 reported in the last survey two weeks ago. Men continue to outspend women. Spending among married consumers has nearly doubled that of non-married consumers, with married men among the highest spending of any group in the survey, averaging $1,213, according to the Holiday Central survey.
As the holiday deadline looms, 81 percent of Americans have completed all or most of their holiday shopping, with seniors outpacing younger consumers. Some 2 in 3 consumers age 65 and older say they've completed their shopping. while fewer than 1 in 3 of those ages 18 to 39 said the same.
Despite all this spending, 50 percent of consumers responding to the survey said they will take on less debt this holiday season than they did last year. Seven percent say they will have more debt and 35 percent said it will be about the same as last year.
Thirty-two percent of consumers expect to have their holiday-related debt paid off in one month or less, 18 percent said it will take two to six months to pay it off and just 3 percent expect it to take seven months or longer.
The survey also found that 1 in 10 Americans admit to “regifting” this season or plan to do so. Those with incomes of $75,000 or higher are the most likely to regift.