The holiday season is here! You know what that means. Now is the time to get serious about streamline lending, data linking, and compliance. Christmas is an economic juggernaut. Between Black Friday sales and the run-up to Christmas day, Americans will spend about $1 trillion. The breakdown looks like this:
- The percentage of men and women who shop for Christmas is fairly equal. Yet, men tend to spend more on average ($725). Women spend $609, just over $100 less.
- The largest spending group are Gen Xers, with an average of $782.
- Millennials are second, with an average of $609.
- Baby Boomers bring up the Christmas Caboose, with an average spending of $576.
- Many shoppers would rather wait until after Christmas as many retailers are continuing after-holiday sales.
All of these statistics point to one thing… members will need liquidity to make it through the holiday season. And what better place to turn than their local credit union? Let’s take a look at a few things you can do to help.