KANSAS CITY, Mo., Nov. 20, 2017 /PRNewswire/ — Service members will spend an average of $569.00 on holiday related activities in 2017, with 87% spending the same or less than last year, according to the 2017 Military Holiday Spending Survey conducted by Pioneer Services, a Division of MidCountry Bank. This annual survey of more than 250 service members highlights holiday trends and preferences, consumer confidence, and other unique holiday insights.
While spending trends remain relatively stable compared to previous years, the 2017 Military Holiday Survey indicates military families are feeling more secure about their future military career, and the income being generated by their military spouse. Concern about job security in the military has fallen by nearly half since 2015, with only 8% of respondents expressing fear about their future in the military this year. And only 6% said their spouses pay or work hours had been cut in 2017, while 12% highlighted this as a problem two years ago.
- 74% believe the economy is doing better or the same compared to last year
- 59% say sales and discounts are most important to them when making purchases
- 11% will spend more than $1,000, while 6% will spend less than $100 in 2017
- 38% will brave the shopping frenzy on Black Friday
- 23% will travel more than 500 miles for the holidays
- A Christmas Story (1983) is the favorite holiday movie (29%), while 80% open gifts on Christmas morning.
These findings and other interesting results are available in an easy-to-read Survey Infographic.
Pioneer Services has also created a free online budgeting and spending tool for military families to spend smart this holiday season. HolidaySpendingPlanner.org is part of the company’s award-winning financial education program, and features helpful blogs, guides, videos, and links to online holiday budgeting calculators and tools, and even a section on holiday giving.
For more information about the company, go to www.PioneerServices.com