Chase Blueprint and O, The Oprah Magazine Reader Panel Study Reveals That the Holidays Bring out Smart Shoppers

  Chase Blueprint and O, The Oprah Magazine Reader Panel Study Reveals That
  the Holidays Bring out Smart Shoppers

Budget-Conscious Consumers Find Ways to Bring Cheer Without Breaking the Bank
                                   in 2012

Business Wire

WILMINGTON, Del. -- November 15, 2012

With the holidays quickly approaching,  Chase Blueprint asked an O, The Oprah
Magazine reader panel about their strategies for spending this season. The
poll revealed that these festive consumers are bringing holiday cheer to
friends and family while keeping a close eye on their personal budgets. The
study, released by Chase, and O, The Oprah Magazine’s promotion department,
indicates that while saving money on holiday shopping is prevalent this year,
more than half plan to spend the same or more in the coming months.

Gifts and expenses related to holiday parties were cited by survey respondents
as the biggest factors in their budgets this time of year. On average,
respondents plan to spend $569 on gifts and $307 on parties this holiday
season.

Smart Holiday Shopping

According to the study, two-thirds of respondents (66 percent) “look forward”
to shopping for gifts during the holidays. In addition to the excitement
surrounding the season, it also shows that people are being mindful with their
spending and want to get the most out of every dollar. To stretch their
holiday budget a little further, 61 percent plan to use coupons or look for
last minute sales, while more than a quarter (28 percent) plan on purchasing
most of their gifts during Black Friday or Cyber Monday. Additionally, three
in five respondents will create a holiday shopping budget (62 percent) and
among those, nearly all are very likely to stick to that budget (95 percent).

“During the holidays, a great amount of focus is placed on buying and giving
gifts – which means people are spending money they may not regularly. It’s
great to see that people aren’t losing sight of their budgets,” said Rachana
Bhatt, director, Chase Card Services. “Developing and sticking to a plan
during the holidays will help consumers save time, money and, most
importantly, prepare them for a sound financial start in the New Year.”

The most popular gift purchases for giving include cash or gift cards (21
percent); clothing or jewelry (14 percent); and consumer electronics and
computer-related accessories or video games (18 percent).

“Having savings is an ideal way to prepare for extra holiday expenditures, but
if it’s unfeasible to cover all the expenses at once, financing a portion of
your holiday purchases may come into play. If you choose to finance any
portion with a credit card, be proactive about setting up a plan to pay your
balance back,” said Hannum.

Chase Blueprint is a unique set of features available on select Chase credit
cards that help cardholders manage their spending and borrowing. Blueprint is
available free of charge to new and existing Chase cardholders. It’s simple to
set up, easy to use and customizable. With Blueprint, cardholders can save
money and pay down balances faster.

Seasonal Celebrations

When it comes to celebrating the season, nearly a quarter (26 percent) of
respondents will host a holiday or seasonal party this year. On average, these
hosts plan to set their party budget at more than $300, with two in five (41
percent) planning to spend between $100 and $249 and a third (32 percent)
planning to spend $250 to $499 on the party. For those hosting an event, the
average number of invitees is 20 people with over a quarter (27 percent)
planning to invite five to 10 people and 45 percent planning to invite 11 to
20.

“Everyone is thinking about giving this holiday season and our December
‘Favorite Things’ issue features ideas for every budget with O, The Oprah
Magazine’s personal seal of approval. Along with Oprah Winfrey, our editors
have found amazing gift ideas for everyone in your life, at a range of price
points,” said Jill Seelig, VP/Publisher and Chief Revenue Officer.

Home for the Holidays

The holidays are a very popular time for traveling to spend time with loved
ones. One-quarter (26 percent) of respondents indicate they plan to travel
this season: two-thirds (61 percent) will hit the road in their car and 34
percent plan to travel by air.

Compared to last year, two in five (45 percent) will spend about the same on
travel this year, while more than a third (39 percent) will be spending more.
When asked which item respondents couldn’t travel without, mobile phones (37
percent), books (11 percent) and magazines (7 percent) topped the list.

About the Study

The Chase Blueprint Holiday Study, fielded by Fairfield Research on behalf of
Chase Card Services, was an online survey of 2,287 total qualified O, The
Oprah Magazine DevOtee panel members, selected at random. The data is
directional and not representative of O, The Oprah Magazine’s entire
readership. Chase conducted this panel survey with O, The Oprah Magazine’s
promotion department to better understand how readers are approaching key
personal finance decisions related to the 2012 holiday shopping season.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase &
Co. (NYSE: JPM), a leading global financial services firm with assets of $2.3
trillion and operations in more than 60 countries. Chase serves more than 50
million consumers and small businesses through more than 5,500 bank branches,
17,500 ATMs, credit cards, mortgage offices, and online and mobile banking as
well as through relationships with auto dealerships. More information about
Chase is available atwww.chase.com.

Contact:

Chase Card Services
Erin Smolenski, 302-282-8460
erin.smolenski@chase.com
or
Hearst Magazines
Johnna Escobedo, 212-649-2581
jescobedo@hearst.com
 
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