54% of American adults made at least one impulse purchase last holiday season.

Even if they made a list and checked it twice, that doesn’t stop many Americans from making impulse purchases during the winter holidays. More than half (54 percent) of American adults made at least one unplanned/impulsive purchase last holiday season, according to Bankrate’s new Impulse Shopping Survey.

Creating a budget before the holiday season instead of impulsive spending is a smart way to save money. But sometimes the Black Friday sale is just too hard to resist. Data from Bankrate reveals who impulse buys during the holidays and why they spend the extra money.

Bankrate’s Key Takeaways on Impulse Buying During the Holidays

Last year, impulse buying was common.

54% of US adults made at least one impulse purchase last holiday season.

Impulsive buyers don’t always take care of themselves

31% of people say they made an unplanned or impulse purchase for a family member last holiday season. For comparison: 28% made an unplanned or impulsive purchase for themselves; 15% made it for friends; 5% did it for dating; and 5% made one for someone else.

A good deal usually leads to impulse purchases.

When asked what inspired them to make an unplanned or impulsive purchase(s) in the past year, 44% of shoppers said they thought the purchase was a good deal or that it was on sale. Others say it made a good holiday gift for someone (38%); wanted to pamper themselves (29%); it was something they had previously considered purchasing (27%); or it was inspired by social media posts (22%).

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Young people are more likely to make impulse purchases for the holidays.

Even if you usually wait before making a big purchase, finding the perfect fit present after all, it may be too difficult for some to resist impulse purchases. Almost a third (31 percent) of Americans have made an unplanned/impulsive purchase for their family members; 15 percent made one for friends; and 5 percent did one for dating.

About a quarter (28 percent) of people have made an unplanned/impulsive purchase for themselves:

Source: Bank Rates Review, 30 September 2024 – October. 2, 2024
Note: Respondents could select more than one answer.

Overall, younger Americans were more likely than older Americans to make unplanned/impulsive purchases last holiday season:

• Generation Zero (18–27 years old): 70 percent

• Millennials (28–43 years old): 65 percent

• Generation X (ages 44–59): 50 percent

• Baby Boomers (60–78 years old): 41 percent

That’s not all: younger Americans were also more likely than older generations to make unplanned/impulsive purchases for themselves:

• Generation Zero: 44 percent

• Millennials: 39 percent

• Generation X: 24 percent

• Baby Boomers: 12 percent

More than two-thirds (69 percent) of parents with children under 18 made an unplanned/impulse purchase last holiday season—compared to 48 percent of parents with adult children and 54 percent of non-parents.

Additionally, people who report a household income of $50,000 or more were more likely to make an unplanned/impulsive purchase last holiday season compared to those with income below this threshold:

• Less than $50,000 per year: 49 percent

• US$50,000–$79,999: 61 percent

• US$80,000–99,999: 65 percent

• $100,000 per year or more: 62 percent

While impulse buying is common, that doesn’t mean Americans aren’t trying to be mindful of their holiday spending. In early August 2024, about half (48 percent) of holiday shoppers said they planned to start their holiday shopping before the end of October, according to the company. Bankrate Holiday Shopping Survey. A third (33 percent) of holiday shoppers plan to spend less on holiday shopping than they did last year.

We asked: When did you start or plan to start your winter holiday shopping (gifts, decorations, etc.) this year?

Impulsive buyers often buy something just because it’s a good deal.

Most Americans were chasing deals last holiday season. More than two in five (44 percent) people who made unplanned/impulsive purchases last holiday bought it because they thought it was a good deal or because it was on sale. Others felt it was a good gift for someone (38 percent), that they wanted to treat themselves (29 percent), or that the purchase was something they had previously considered (27 percent):

Source: Bank Rates Review, 30 September 2024 – October. 2, 2024
Notes: Respondents could select more than one answer. The responses are for U.S. adults who made at least one unplanned/impulse purchase last holiday season.

Social media influences holiday shopping for many young Americans

Nearly one in four (22 percent) people who made unplanned/impulsive purchases last holiday season were influenced in some way by social media:

• Influenced by brand/advertiser posts: 13 percent

• Influenced by influencer posts: 10 percent

• Influenced by messages from friends/relatives/acquaintances: 10 percent

A small percentage (7 percent) made an unplanned/impulsive purchase due to other advertising such as television, radio, online advertising or billboards.

Perhaps unsurprisingly, Gen Z (36 percent) are most likely to say they were inspired to make an unplanned/impulsive purchase by social media, followed by Millennials (31 percent), Gen X (14 percent) and Baby Boomers (6 percent). ). .

Bottom line

Whether you’re shopping for a treat for yourself or stocking up on gifts for the family, you can always manage your holiday spending consciously. To stay on track, Bankrate senior industry analyst Ted Rossman advises people to budget ahead for any potential impulse purchases.

“If you have money set aside for it, you will have more freedom to spend it without overdoing it or taking on expensive credit card debt” says Rossman.

Another frugal tip to consider is to take advantage of unused gift cards. According to Bankrate Gift Card Research34 percent of Americans have lost money due to a gift card error, such as losing the card or having it expire. Go through your old gift cards; you may be surprised by what you find.

“Nearly half of Americans have at least one of these, and among them, the average price is a whopping $244. Finding and using old gift cards is a great way to treat yourself or someone else,” says Rossman.

How to Deal with Financial Stress During the Holiday Season

Does the thought of holiday shopping make you break out in a cold sweat? Bankrate has the latest guide to help you navigate the holiday season while staying on budget.

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• Methodology

  Impulse Shopping Survey: All figures, unless otherwise stated, are from YouGov Plc. The total sample size was 2,453 adults, including 1,346 who made at least one unplanned/impulse purchase last holiday season. Field work was carried out from September 30, 2024 to October. December 2, 2024 The survey was conducted online and adheres to strict quality standards. He used non-probability sampling, using both quotas up front at the time of collection and a final weighting scheme designed and proven to provide nationally representative results.

  Holiday Shopping Study: The total sample size was 2,300 adults, of whom 1,789 planned to shop for the holidays. Field work was carried out on August 5-7, 2024.

  Unused gift cards. Study: The total sample size was 2373 adults. Field work was carried out from August 19 to 21, 2024.