Online shopping site PriceGrabber just released results of a survey indicating that 56% of respondents who expect to receive a tax refund this year plan to use their money to shop. The 2013 total was up from 43% who had plans to spend their tax refunds in 2012.
When the company asked consumers what they would purchase with their tax refund, clothing was the top pick, selected by 34% of respondents. Home goods and consumer electronics tied for second place at 28%. Home goods fell into a tie for third place last year.
In all, according to the PriceGrabber study, 54% of consumers expect to receive a tax refund this year, with 24% of those anticipating a bigger pay out than they got last year and 26% expecting about the same amount.