'Tis the Season to Be Jolly And Rack Up Debt: Holiday Shopping Quiz

Staff

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About This Quiz

Are you an organized, educated, budget-minded holiday shopper or (like most of us) the overspending, last-minute type? Whatever your shopping profile, this quiz will give you some insight into the massive, sometimes maddening, holiday retail world.

The American Research Group has been conducting holiday spending surveys for 25 years. In 2010, about how much did the average survey participant anticipate spending on holiday gifts?

In 2010, Americans were expected to spend $658 each on holiday gifts -- an increase of 58 percent from 2009.

How many of the survey's respondents expected to shop on the Internet?

Forty percent of respondents said they were planning to shop online for holiday gifts.

How many people plan to do catalog shopping?

Twenty-six percent of the American Research Group's 2010 holiday shopping survey respondents were planning to buy gifts from catalogs, a big drop from previous years.

How many people start their holiday shopping by mid-November?

Almost half (41 percent) of respondents to a November 2010 survey said they'd already bought some gifts.

How much more are you likely to spend if you buy holiday gifts with a credit card?

If you're on a tight budget this season, you might want to withdraw some cash before you hit the mall -- according to the Chicago Tribune, you'll probably spend 30 percent more with a credit card.

How much money does that extra 30 percent translate to over the holiday season?

People who buy holiday gifts on credit spend about $180 more than other shoppers over the course of the season.

True or false: If you shop online on Black Friday instead of going to the store at 5 a.m., you'll have a better chance at actually scoring a deal.

Experts say you're probably more likely to grab a "doorbuster" deal if you sit at home on your computer.

About how many Americans were in debt from the 2009 holiday season at the beginning of 2010?

According to a report on Credit.com, at the start of 2010, 13.6 million people were in debt from holiday spending.

How did "Black Friday" get its name?

The same does sound sinister, but it merely reflects the accounting lingo of moving out of the red and into the black.

True or False: One holiday shopping poll reported that 5 percent of men weren't going to spend a dime on holiday gifts.

It's false -- but the truth is even worse. Twelve percent of men said they weren't going to buy any holiday gifts.

How many women in the poll said they weren't going to buy any holiday gifts?

Looks like the women are doing all the spending -- all of them were buying gifts.

Most people don't haggle over prices in stores, but one study found that hagglers saved an average of $____ on computer purchases.

If you take a chance on haggling over a computer, you'd stand to save about $100.

What percentage of people say they know they'll be holiday shopping at the last minute?

Twelve percent of shoppers surveyed in October 2010 said they'd be shopping down to the wire.

What percentage of people say they start shopping in January for that current year's holiday season?

Eight percent of shoppers say that they run the racks of post-holiday sales to get a jump on the next holiday season.

Which of the following does the National Retail Federation suggest doing the night before an advertised sale starts?

According to the NRF, around 6 p.m. store registers are often programmed for the next day, so if you make a purchase after that, the next day's sale price might ring up.

What's the number one Black Friday shopping tip on DealNews.com?

You'll find the best deals online on Thanksgiving, not Black Friday, says Dan deGrandpre, CEO of DealNews.

True or False: Christmas Eve is the busiest shopping day of the year.

You might want to say Black Friday, but the craziest shopping day is actually the Saturday before Christmas.

In 2009, what was the most visited Web site on Black Friday?

According to CreditScore.net, Amazon was the big winner in 2009 with 13.6 percent of all U.S. visits.

In 2009, how many Black Friday shoppers bought toys?

According to CreditScore.net, 10 million, or one-third, of Black Friday shoppers snapped up toys.

How many Black Friday shoppers are in stores by 5 a.m.?

A third of all Black Friday shoppers are out and about by 5 a.m., says CreditScore.net.

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