More than half of U.S. shoppers—54 percent—have admitted to spending $100 or more on an impulse buy, including 20 percent who have spent at least $1,000. In total, 84 percent of all shoppers have made impulse purchases, according to a report from CreditCards.com.
Most consumers, 47 percent, said the impulse buy was for themselves, while 21 percent said for a child and 16 percent for a spouse or significant other.
Most impulse buys, 8 out of 10, are made in a brick-and-mortar store, and 6 percent were made on a smartphone or tablet. Even for millennials, only 7 percent have made an impulse buy on a smartphone or tablet.
"While Americans have thrown money away freely in the past, this holiday season they were rather frugal," said Matt Schulz, CreditCards.com's senior industry analyst. "In the past three months, the most common impulse purchase was under $25. Only one in four Americans made an impulse purchase over $100 this holiday season. With a volatile economy, Americans are spending more cautiously."
Millennials are the most likely to make an impulse purchase for themselves; 30- to 49-year olds are most likely to do so for a child; and those 65 years old and over are most likely to buy for a spouse.
One third of shoppers who make more than $75,000 a year have made an impulse purchase of $1,000 or more.
In a recent survey of fathers by iModerate, 51 percent of dads said that a great deal is the top reason behind making a last-minute purchase.
-See this CreditCards.com press release
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