Over Thanksgiving weekend, American shoppers spent over $52 billion according to the National Retail Foundation.  A number of surveys show however that up to 29% of the spending was done with credit cards.  In fact, the percentage of black Friday shoppers who used credit cards last year was 16%; this year that number is estimated to be 27%.

A study conducted by America’s Research Group, ARG/UBS indicated that a number of customers plan on using their tax refunds to pay for the holidays.  Other parts of the survey showed that more people admitted they would exceed their holiday budgets this year over last.  (14% compared to 10%.)  And since, the number of people who will overspend their budgets will actually exceed those who will admit to it, the number will be even higher.

This is good news for retailers certainly, but it hints at a possible increased demand for payday loans in the next few months as well.