WILMINGTON, Del. — Another survey from a major financial institution appears to suggest that consumers may spend more this holiday season than previous surveys have suggested they will and thus take some pressure off card interchange income.
ING DIRECT, which identifies itself as the nation's largest direct bank or thrift, commissioned a survey conducted by Harris Interactive that was conducted in mid-November. In the survey of almost 3,000 adults, 50% of respondents said they would spend either the same as last year (45%) or more (5%).
In addition, 60% of respondents told the bank they spend at least $300 on the holidays, with 12% of those saying they spend more than $1,000.
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