Here’s What 78% of Americans Plan to do With Their Tax Refund
By: eBay News Team
New eBay study finds 44% of Millennials are rewarding themselves after filing their return this year.
Good things come to those who file. With the tax deadline just around the corner, eBay’s Tax Refund Retail Study has uncovered what Americans really want to do with their refunds. The findings reveal that 92 percent of American consumers plan to file early, before April, and most are excited to receive their refunds to treat themselves. For those planning to shop, eBay continues to offer amazing, splurge-worthy deals on eBay.com/taxrefund now through April 17.
“Our research showed that consumers, especially Millennials, view tax season as a time to use their refunds to reward themselves – whether it’s upgrading their personal style or investing in their passions,” said Jesse Kiefer, General Manager of Deals at eBay.
With two extra days to file this year, the eBay Tax Refund Retail Study also uncovered that:
A majority of Americans are not tax return procrastinators:
- Nearly 6 in 10 (57%) Americans had already filed as early as February 26, and even high among Millennials (59%) – that’s nearly two months (50 days) before the deadline!
- Nearly half (48%) of respondents expressed excitement about filing taxes because they are getting money back.
Refunds mean rewards for many filers:
- Nearly 8 in 10 (78%) plan to spend at least part of their tax refund this year, while less than a quarter (23%) plan to save it.
- Millennials are the most open to spending their refund on themselves: 71% are considering rewarding themselves after completing their return, that’s 4% higher than the general population.
Americans have plans for their tax refunds - from new cars to electronics and fashion:
- The top three things Americans plan to reward themselves with for filing include new electronics, a new wardrobe, and a night out at a restaurant or bar.
- One in five Americans (20%) plan to spend their entire refund on a tech purchase.
- For Millennials planning to spend their entire refund, more than a third (37%) will spend it on a new car.
Whether you’re looking to treat yourself or get inspired for how to spend your long-awaited refund, visit eBay.com/taxrefund. Through April 17, shoppers can take advantage of a wide selection of Daily Deals – all with free shipping and no membership required - including:
- Movado Museum Mother of Pearl Diamond Dial Steel Women’s Watch (74% off)
- LG 55” Smart OLED 4K Ultra HD TV (53% off)
- Philips Viva Digital Plus Multi-Cooker AirFryer Bundle (40% off)
eBay Tax Refund Retail Study, 2018: U.S. national survey, conducted by Pollfish in February 2018, with a sample of 1,000 adults (18-54+). Millennials defined as 18-34.