This year’s annual tax return survey conducted by NRF and Prosper Insights & Analytics found that nearly two-thirds (65%) of consumers expect a refund.
About the survey: The 2020 survey of 7,671 U.S. adults 18 and older was conducted February 3-10 and has a margin of error of plus or minus 1.1 percentage points.
About the survey: The 2020 survey of 7,671 U.S. adults 18 and older was conducted February 3-10 and has a margin of error of plus or minus 1.1 percentage points.
NRF has been conducting its annual Tax Returns Survey since 2007 to gauge consumer spending and saving behavior related to U.S. income tax returns.
Historical highlights
- 2018: Consumers using tax refunds to pay down debt
- 2017: Consumers plan to save their tax refunds for later
- 2016: Consumers build confidence by saving tax refunds
- 2015: Americans planning to save, not splurge, with tax refunds
Results of the Tax Returns Survey are released each year in February.
More on consumer trends
3 charts that explain why consumers are feeling lucky this St. Patrick’s Day
More than half of adults plan to celebrate and total spending is expected to reach a record $6.16 billion.
Read more
NRF forecasts retail sales will grow 3.5 percent to 4.1 percent
NRF forecasts that retail sales during 2020 will increase between 3.5 percent and 4.1 percent to more than $3.9 trillion
Read more
January retail sales grew 2.7 percent over last year
January retail sales increased 0.2 percent over December and 2.7 percent year-over-year, according to NRF.
Read more
3 ways convenience impacts shopping behavior
Retailers have been setting new standards for finding and receiving items.
Read more
3 common Valentine's Day myths
Fact or fiction? The data behind some common Valentine’s Day assumptions.
Read more
Confident consumers and broader buying lead to record Valentine's Day spending plans
Coming off a strong holiday season, Americans are expected to set another record for Valentine’s Day spending this year.
Read more