Thirty-nine percent of affluent Americans - considered by American Express as those with an annual household income of $100,000 or more - plan to recycle presents this holiday season. That's more than the 32% of all Americans who say they will re-gift.
Affluent Americans are also more inclined than the average person to consider re-gifting an acceptable practice. Over the past three surveys, the percentage of wealthy respondents that consider re-gifting socially acceptable has consistently exceeded the percentage of average Americans of that opinion.
David Rabkin, SVP of consumer lending at American Express, said re-gifting has become more common over the past few years for all Americans, as consumers have tightened their belts. Two-thirds of holiday shoppers say they are on a budget this season, and three-quarters plan to take advantage of last-minute deals.
"Just as we've seen consumers become more budget conscious with their holiday shopping, we're seeing people get comfortable with re-gifting items they might not want to a loved one who will appreciate them," Rabkin said.
The company didn't speculate on why richer Americans are more willing to re-gift than others.