Survey: Wisconsin residents spend less on holiday shopping

Freeman Staff

Dec. 18, 2014

WAUKESHA - Wisconsin residents will spend $275 less than the national average during the holidays, according to a report released Wednesday by BMO Harris Bank.

The survey found Wisconsin residents on average will spend $853, compared to the national average of $1,128.

The report breaks spending down into several categories, with gift purchases making up the largest portion. Wisconsin residents said they would spend $471, compared to $552 nationally. The state’s residents were also below average for spending on trips - $126 versus $310 - and decorations - $67 versus $93.

Badger state residents did exceed the average on entertainment spending at $188 compared to $172.

While the survey found 81 percent of Wisconsin residents said they generally stick to their holiday budget, 73 percent said they make impulse purchases, above the national average of 64 percent.

The survey also found 31 percent said they often regret the amount of money they’ve spent after the holidays and 52 percent said they stress about spending the “right” amount on gifts, regardless of how great the gift might be.

www.bmoharris.com