Call it a hard candy holiday season, but this year almost half of consumers surveyed plan to use any cash they are given as holiday gifts to help meet expenses like groceries, gas and other household expenses.
"The importance and desirability of cash cannot be underestimated. More than half of the consumers we surveyed (53%) know someone who wants cash as a gift to help cover daily expenses this holiday season," said Jorge Consuegra, senior vice president for Western Union, which conducted the survey. "The best gifts are the ones most wanted and needed, and this year, that gift is cash."
While 52% of those surveyed expect to send a gift to someone who they will not be seeing in person this holiday season, six in ten Americans say the cost of shipping gifts, especially during the holiday season, are too high.
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A majority on those surveyed said they were planning to skip Black Friday sales that were held last week, citing crowded stores as being a discouraging factor. Although retailers reported large crowds coming early for door busters, early retail reports indicate overall sales were below expectations.
Recognizing that consumers want a convenient holiday shopping experience, this holiday season Western Union is providing consumers with $50 for a $5.00 fee, when sending the gift of cash through Dec. 26, the company said.
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