’Tis the season to be jolly — but it’s not so jolly for many consumers, as the holidays can cause financial stress and often put consumers into debt. According to a nationwide survey from Experian, the primary reason is that most consumers don’t create budgets and are unprepared to cover added expenses beyond gifts, such as postage costs, hostess gifts, gift-wrapping supplies and greeting cards.

1. EDELMAN INTELLIGENCE
Experian Holiday Shopping Survey
November 2016

2. 2 © Copyright 2016 Daniel J Edelman Inc.
WHO HOW MANY ACCURACY WHEN HOW
Adults (18+)
nationwide
n=1,040
Margin of Error =
± 3.1%
Data Collection
Occurred
October 5-12,
2016
Online Survey
Research Methodology
NOTE: THROUGHOUT THIS REPORT, TOTALS MAY NOT ADD TO 100% DUE TO ROUNDING

3. 3 © Copyright 2016 Daniel J Edelman Inc.
Key Findings
Most consumers
feel stressed
about their
finances during
the holiday
season, and
nearly a quarter
would risk
identity theft to
get a good deal
While the vast
majority of
shoppers have
incurred
unexpected
holiday
expenses in the
past, most still
do not budget
for them
The average
dollar amount
spent on
unexpected
holiday
expenses is
$288, which has
put nearly a
third of
consumers into
credit card debt
Unexpected
gifts (like
hostess gifts or
gifts for people
that shoppers
did not plan to
see) are the
most common
and frustrating
extra holiday
expenses

4. HOLIDAY SHOPPING
EMOTIONS

5. 5 © Copyright 2016 Daniel J Edelman Inc.
Shoppers are especially excited about this upcoming holiday
season, but many also feel stressed, overwhelmed or anxious
Q: When you think about holiday shopping, which of the following emotions do you feel? [MULTI-SELECT]
Holiday Shopping Emotions
39%
38%
35%
35%
25%
48%
46%
44%
41%
31%
Thoughtful
Excited
Joyful
Generous
Grateful
2015 2016
+9
+8
+9
+6
+6

6. 6 © Copyright 2016 Daniel J Edelman Inc.
Q: To what extent do you agree or disagree with each of the following statements?
Q: Which, if any, of the following best describes why holiday shopping can be financially stressful for you personally? (Asked if
stressed about finances / strain on finances, 2015 n=666, 2016 n=658) [MULTI-SELECT]
More than half of shoppers are worried about the impact of the
holidays on their finances, especially whether they have extra
money to buy gifts
Financial Stress of Holiday Shopping
(Shown among those who feel stressed or feel a strain on their finances)
35%
38% 38%
11%
43%
40% 39%
11%
No extra money to
buy gifts
Difficult staying in
budget
Don't want to add to
my debt
No credit to buy gifts
2015 2016
+8
56%
Say holiday shopping
puts a strain on their
finances
55%
Feel stressed about
their finances during
the holiday season

7. 7 © Copyright 2016 Daniel J Edelman Inc.
Many consumers feel they spend too much during the holiday
season, sometimes to the point of not being able to enjoy them
Q: To what extent do you agree or disagree with each of the following statements?
43%
44%
56%
The extra expense of the holidays
makes them hard to enjoy
I feel obligated to spend more than I can
afford when buying holiday gifts
I spend too much during the holiday
season
Feelings Towards Spending
(Shown: % Agree)
18-34: 57%
Parents: 53%
HHI <$50K:
47%
HHI <$50K:
51%
18-34: 48%
Women: 47%
Parents: 69%
35-54: 65%
18-34: 62%

8. HOLIDAY SHOPPING
BUDGETS & SPENDING

9. 9 © Copyright 2016 Daniel J Edelman Inc.
Anticipated holiday spending has dipped from 2015 levels, but
many will still need to charge their holiday spending to a credit
card
Q: Approximately, how much do you plan to spend on holiday gifts this season?
Q: Approximately what percent of that holiday shopping budget do you…
$758
$806
$734
Anticipated
2014
Anticipated
2015
Anticipated
2016
Anticipated Holiday Spending
(Shown: Mean USD Amount)
HHI <$50K $417
HHI $50-$99K $849
HHI $100K+ $1,183
Parents $1,059
No Children $513
Men $898
Women $593
Percent Saved vs. Charged
(Shown: Mean % of Budget)
47%
31%
22%
Have already saved
Will save in coming months
Will charge to credit card

10. 10 © Copyright 2016 Daniel J Edelman Inc.
55%
47% 46%
18% 17%
9%
6%
After cash, credit cards will be the most common form of
payment for holiday purchases
Q: How do you plan to pay for your holiday gifts this year?
Shopping Payment Method
Most Likely to Use
Major Credit Cards:
-HHI $100K+ (67%)
-Men (55%)
Most Likely to Use
Store Credit Cards:
-18-34 (25%)
-Parents (24%)

11. 11 © Copyright 2016 Daniel J Edelman Inc.
Most consumers identify with the “Sensible Frosty,” but many
admit they will spend whatever it takes to have an enjoyable
holiday season
Q: Which of the following best describes your own personal approach to holiday spending?
17%
19%
44%
20%
GRINCH– 17%
I spend the bare minimum and skip
parties and presents whenever
possible
More likely to be:
• Less affluent, HHI <$50K (26%)
• Ages 55+ (24%)
• Those without kids (22%)
SENSIBLE FROSTY – 44%
I start with a budget, but
sometimes spend on unexpected
things
More likely to be:
• Parents (54%)
• Ages 18-34 (50%) or 35-54 (48%)
• HHI of $50-$99K (48%)
SANTA CLAUS – 20%
I don’t budget or plan, I spend
whatever to have an enjoyable
holiday season
More likely to be:
• More affluent, HHI $100K+ (31%)
• Ages 55+ (26%)
• Men (23%)
SQUEAKY ELF – 19%
I buy presents and attend parties,
but I budget every dollar and stick
to that budget
More likely to be:
• Ages 18-34 (24%)
• HHI of $50-$99K (21%)
Holiday Budgeting Personality Types

12. 12 © Copyright 2016 Daniel J Edelman Inc.
Q: Which, if any, of the following have you… Ever done in the past / Plan to do this holiday season?
And when asked about this specific holiday season, less
than half of consumers are planning to set a budget
62%
HAVE
SHOPPED
WITHOUT A
BUDGET
Have Gone Holiday Shopping
Without a Budget
42%
PLAN TO SET
ASIDE A
BUDGET THIS
YEAR
Plan to Set Aside a Holiday
Shopping Budget this Year
18-34: 52%
Parents: 48%

13. UNEXPECTED HOLIDAY
EXPENSES

14. 14 © Copyright 2016 Daniel J Edelman Inc.
Holiday shoppers admit that they have been hit by unexpected
holiday expenses in the past, but most do not budget for them
Q: Which of the following best describes how much you spend during the holiday season?
Q: Which of the following expenses have you ever had that you did not expect or plan for? [MULTI-SELECT] (Shown: % Any
Selected)
Q: Do you account for extra holiday expenses when making your holiday spending budget? (Asked of those who have budgeted
or plan to budget for holiday shopping, n=761; Shown off total base) NOTE: TOTALS MAY NOT ADD TO 100% DUE TO
ROUNDING
Incurring Unexpected
Holiday Expenses
28%
Had unexpected holiday expenses
Never had unexpected holiday expenses
72%
BEEN HIT BY
UNEXPECTED
EXPENSES
35%
27%
Budget for unexpected costs
Do not budget for unexpected costs
Do not budget at all
39%
BUDGET FOR
EXTRA
HOLIDAY
EXPENSES
Budgeting for Unexpected
Holiday Expenses
Expected vs. Actual
Spending
42%
10%
More than expected
Exactly as expected
Less than expected
48%
SPEND
MORE
THAN
EXPECTED Parents:
85%
18-34: 83%
Parents:
60%
18-34: 56%

15. 15 © Copyright 2016 Daniel J Edelman Inc.
Unexpected holiday expenses can break the budget and even
put shoppers into credit card debt
Q: How much money do you typically end up spending on extra holiday expenses? (Asked if incurred unexpected holiday expenses, n=753)
Q: Have you ever spent more on the “extra holiday expenses” than gifts? (Asked if incurred unexpected holiday expenses, n=753; Shown off total
base)
Q: Have extra holiday expenses ever put you into credit card debt? (Asked if incurred unexpected holiday expenses, n=753; Shown off total base)
Unexpected Expenses &
Credit Card Debt
28%
HAVE SPENT
MORE ON EXTRA
HOLIDAY
EXPENSES THAN
GIFTS
31%
HAVE GONE
INTO DEBT
FROM EXTRA
HOLIDAY
EXPENSES
Average Dollar
Amount of Extra
Holiday Expenses:
$288
Spending More on the
Unexpected Expenses
Parents:
44%
35-54: 39%
18-34: 36%
18-34: 38%
Parents:
37%
HHI <$50K $168
HHI $50-$99K $267
HHI $100K+ $602
Parents $393
No Children $200

16. 16 © Copyright 2016 Daniel J Edelman Inc.
Unexpected gifts – like hostess gifts or gifts for people that
shoppers had not planned to see – are most common and
frustrating
Q: Which of the following expenses have you ever had that you did not expect or plan for? [MULTI-SELECT]
Q: Which unexpected holiday expenses frustrate you the most? (Asked if incurred unexpected holiday expenses, n=753)
NOTE: TOTALS MAY NOT ADD TO 100% DUE TO ROUNDING
Top Unexpected Holiday Expenses
1 2 3 4 5 Other
Top 5
Most
Incurred
Unexpecte
d gifts
(31%)
Baking/
cooking
supplies
(26%)
Gift
wrapping
supplies
(25%)
Greeting
cards
(21%)
Mailing
costs for
sending
gifts (21%)
• Home décor (20%)
• Order delivery costs (19%)
• New holiday clothes (19%)
• Travel costs (17%)
• Entertainment (15%)
• Party supplies (15%)
• Charitable donations (14%)
• Holiday tips (13%)
Top 5
Most
Frustratin
g
Unexpecte
d gifts
(25%)
Order
delivery
costs
(12%)
Mailing
costs for
sending
gifts (10%)
Baking/
cooking
supplies
(9%)
Travel
costs (8%)
• New holiday clothes (6%)
• Gift wrapping supplies (6%)
• Home décor (5%)
• Entertainment (4%)
• Greeting cards (4%)
• Holiday tips (4%)
• Charitable donations (3%)
• Party supplies (2%)

17. HOLIDAY SHOPPING &
IDENTITY PROTECTION

18. 18 © Copyright 2016 Daniel J Edelman Inc.
42%
34%
15%
23%
43% 44%
Black Friday Cyber Monday
Yes Unsure No
Consumers still expect to do most of their shopping at brick-and-
mortar stores, but many are already planning on making Cyber
Monday purchases
Q: What percentage of your holiday shopping do you anticipate doing…
Q: Do you plan on doing any holiday shopping on…
NOTE: TOTALS MAY NOT ADD TO 100% DUE TO ROUNDING
Anticipated Shopping Methods
(Shown: Mean Percentage)
55%
33%
12%
45%
NET
ONLINE
Anticipated Shopping Days

19. 19 © Copyright 2016 Daniel J Edelman Inc.
Most shoppers do not perceive a difference in their risk of
identity theft in-store or online
Q: Where do you feel that your identity is most at risk this holiday season? (Asked if shopping both in-store and online, n=808)
Q: Where do you feel that your identity is most at risk this holiday season? Using a credit or debit card on… (Asked if shopping on both Black
Friday and Cyber Monday, n=342)
NOTE: TOTALS MAY NOT ADD TO 100% DUE TO ROUNDING
16%
27%
In a retail store When online shopping Both equally
21%
17%
Black Friday Cyber Monday Both equally
Highest Risk of ID Theft by Shopping Method Highest Risk of ID Theft by Shopping Day
56%
BOTH EQUALLY
62%
BOTH EQUALLY

20. 20 © Copyright 2016 Daniel J Edelman Inc.
Most consumers say they are concerned about identity theft
this holiday season, but nearly a quarter would take the risk for
a good deal
Q: Please rate how concerned you are about identity theft this holiday season.
Q: Would you risk becoming a victim of identity theft in order to get a good Cyber Monday deal?
NOTE: TOTALS MAY NOT ADD TO 100% DUE TO ROUNDING
Concern about Identity Theft
31%
22%
46%
Very concerned Somewhat concerned Not concerned
54%
NET CONCERNED
23%
WOULD RISK ID
THEFT FOR A
GOOD CYBER
MONDAY DEAL
Risking Identity Theft for a Deal
18-34: 31%
Parents:
30%
Men: 26%

21. 21 © Copyright 2016 Daniel J Edelman Inc.
55%
55%
54%
53%
50%
43%
29%
Check to see if the site is secure
Log out of personal accounts after shopping
Shop only on personal internet connections /
networks
Go to websites directly instead of clicking on links
Don't click on links sent in emails
Don't store payment card info on retailers' websites
Pay with a credit card dedicated to online shopping
only
Among those that plan to shop online, the most common
precautions are using secure sites, logging out of accounts and
using personal wi-fi
Q: Which, if any, of the following actions do you take to protect your identity when shopping online? (Asked if shopping online,
n=867)
Actions Taken to Protect against Identity Theft

22. 22 © Copyright 2016 Daniel J Edelman Inc.
40%
25%
22%
20%
18% 18%
13%
11%
6%
Save more Pay off a
credit card
Create
personal
budget
Pay full
credit card
balance
each month
Pay credit
card debt
on time
Not open
any more
credit cards
Check
credit score
more often
Check
credit report
more often
Enroll in
credit
monitoring
service
Looking ahead to 2017, consumers’ top resolutions are to save
more, pay off a credit card, create a budget and pay off credit
balances in full
Q: Which of the following are your 2017 New Year’s credit resolutions? [MULTI-SELECT]
2017 New Year’s Credit
Resolutions
21%
NET CREDIT
MONITORING

23. APPENDIX I:
DEMOGRAPHICS

24. 24 © Copyright 2016 Daniel J Edelman Inc.
Category Subcategory Total
Gender
Male 46%
Female 54%
Age
18-34 27%
35-44 19%
45-54 19%
55-64 18%
65 or older 16%
Region
Northeast 19%
Midwest 22%
South 36%
West 23%
Race /
Ethnicity
White 71%
African American 13%
Hispanic 8%
Asian 4%
Other 3%
Category Subcategory Total
Employment
Status
Employed 62%
Unemployed 4%
Retired 19%
Student 4%
Homemaker 9%
Other 2%
Education
High school or less 19%
Some college 30%
College graduate 35%
Graduate school 16%
Household
Income
Less than $50,000 36%
$50,000 to less than $100,000 41%
$100,000 or more 18%
Children in
Household
Yes 39%
No 61%
Demographics
NOTE: Totals may not add up to 100 due to rounding

25. APPENDIX II: YEAR
OVER YEAR TRENDING
DATA

26. 26 © Copyright 2016 Daniel J Edelman Inc.
Trend: Feelings Toward Holiday Spending
Q: To what extent do you agree or disagree with each of the following statements?
60%
52%
41%
56% 55%
44%
Holiday shopping puts a strain on
my finances
I feel stressed about my finances
during the holiday season
I feel obligated to spend more than
I can afford when buying holiday
gifts
2015 2016
Feelings Towards Spending
(Shown: % Agree)

27. 27 © Copyright 2016 Daniel J Edelman Inc.
Trend: Spending Concerns and Expected vs. Actual Spending
Q: In your opinion, what – if anything – is the worst part about holiday shopping?
Q: Which of the following best describes how much you spend during the holiday season?
NOTE: TOTALS MAY NOT ADD TO 100% DUE TO ROUNDING
Expected vs. Actual SpendingBiggest Holiday Shopping
Concern
27%
20%
14%
12%
9%
4%
4%
30%
20%
10%
13%
10%
5%
3%
Crowds
Picking the right gift
Sticking to a budget
Having cash/credit to buy gifts
Prices/Deals
Keeping gifts a secret
Risk of identity theft
2015 2016
11% 10%
50%
42%
38%
48%
2015 2016
More than expected
Exactly as expected
Less than expected

28. 28 © Copyright 2016 Daniel J Edelman Inc.
62%
30%
53%
26%
62%
24%
Have Done Plan To Do This Season
2014 2015 2016
Trending Data: Holiday Shopping Budgeting
Q: Which, if any, of the following have you… Ever done in the past / Plan to do this holiday season?
54%
38%
47%
43%
56%
42%
Have Done Plan To Do This Season
2014 2015 2016
Shop for Holiday Gifts without a Set BudgetSet Aside a Budget for Holiday Shopping

29. 29 © Copyright 2016 Daniel J Edelman Inc.
Trending Data: Anticipated Shopping Breakout
Q: What percentage of your holiday shopping do you anticipate doing…
NOTE: TOTALS MAY NOT ADD TO 100 DUE TO ROUNDING
Anticipated Shopping Breakout
(Shown: Mean % of Budget)
12% 9% 12%
39%
36% 33%
48% 55% 55%
2014 2015 2016
In-Store Online - Computer Online - Mobile

30. 30 © Copyright 2016 Daniel J Edelman Inc.
59%
48% 47%
23% 22%
2% 1%
53%
49%
45%
22%
18%
9% 6%
55%
47% 46%
18% 17%
9% 6%
Cash Major credit card Debit card Reward points Store credit card Layaway Specialized
savings account
2014 2015 2016
Trending Data: Anticipated Shopping Payment Method
Q: How do you plan to pay for your holiday gifts this year? [MULTI-SELECT]
Shopping Payment Method

31. 31 © Copyright 2016 Daniel J Edelman Inc.
Trending Data: Holiday Budget Saved vs. Charged
Percentage of Budget Saved vs. Charged
(Shown: Mean % of Budget)
52%
25% 23%
47%
31%
22%
Have already saved Will save in coming months Will charge to a credit card
2015 2016
Q: Approximately what percent of that holiday shopping budget do you…

32. 32 © Copyright 2016 Daniel J Edelman Inc.
Trending Data: Identity Theft
Q: Please rate how concerned you are about identity theft this holiday season.
Q: Where do you feel that your identity is most at risk this holiday season? (Asked if shopping both in-store and online, 2015 n=799, 2016 n=808)
NOTE: TOTALS MAY NOT ADD TO 100% DUE TO ROUNDING
50% 46%
22% 22%
28% 31%
2015 2016
Very concerned
Somewhat concerned
Not concerned
55% 56%
30% 27%
14% 16%
2015 2016
In a retail store
Online shopping
Both
Concern About Identity Theft Risk of ID Theft by Method

33. 33 © Copyright 2016 Daniel J Edelman Inc.
61%
61%
59%
59%
54%
46%
28%
52%
51%
54%
48%
45%
35%
25%
55%
55%
54%
53%
50%
43%
29%
Check to see if the site is secure
Log out of personal accounts after shopping
Shop only on personal internet connections /
networks
Go to websites directly instead of clicking on links
Don't click on links sent in emails
Don't store payment card info on retailers' websites
Pay with a credit card dedicated to online shopping
only
2014 2015 2016
Protecting against Identity Theft
Trending Data: Online Data Protections
Q: Which, if any, of the following actions do you take to protect your identity when shopping online? (Asked if shopping online;
2014 n=899, 2015 n=864, 2016 n=867)

34. 34 © Copyright 2016 Daniel J Edelman Inc.
Trending Data: New Year’s Resolutions
Q: Which of the following are your 2016 / 2017 New Year’s credit resolutions? [MULTI-SELECT]
28%
25%
21%
18%
14% 14%
7%
25%
20%
18% 18%
13%
11%
6%
Pay off a credit
card
Pay full credit
card balance
each month
Pay credit card
debt on time
Not open any
more credit
cards
Check credit
score more
often
Check credit
report more
often
Enroll in credit
monitoring
service
2015 2016
New Year’s Credit Resolutions

35. 35