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Survey: 66M Americans will go into debt after splurging on tech this holiday season

November 16th, 2018 at 6:04 PM
Holiday shopping trends 2018

A new survey of a little more than 2,000 US consumers from buyback site Decluttr has turned up several interesting holiday-related retail trends, such as how tons of us are apparently going to way overspend on new tech and gadgets in the weeks to come. But by the time the holiday season is over, the survey’s findings also show, some 66 million Americans are also going to find they’ve gone into debt. Yikes.

Among the survey’s tech-related findings:

  • 47% of people are planning to spend between $50 and $200 on tech gifts this year
  • 2 in 5 Americans are open to receiving refurbished tech
  • This year’s most-desired tech gifts include: headphones (31%), smartphones (30%) and virtual assistants (28%)
  • 59% of millennial parents are likely to purchase refurbished tech, in comparison with 27% of non-millennial parents

Decluttr’s study “points to an anticipated spend of $141B this gifting season, meaning the average American plans to shell out a whopping $599 on holiday gifts this year, which will push 1 in 4 Americans into debt after the holiday season.”

Decluttr’s survey shows that the price tag apparently keeps getting higher with each passing holiday season, a point also made by Decluttr CMO Liam Howley. In a statement about the survey results, he noted that: “Christmas is getting more expensive every year, and our research has shown that consumers are looking to seek additional income when it comes to covering the holiday spend. What’s more, we found that nearly a third of consumers are likely to sell unwanted tech items for additional money this holiday season.”

We’re just days away from the busiest shopping week of the year, and you can stay current on all the Black Friday details you need by checking our steady stream of posts in the lead-up.

Andy is a reporter in Memphis who also contributes to outlets like Fast Company and The Guardian. When he’s not writing about technology, he can be found hunched protectively over his burgeoning collection of vinyl, as well as nursing his Whovianism and bingeing on a variety of TV shows you probably don’t like.

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