84ºF

Money Matters: Shoppers spend nearly $800 just on holiday outfits

The "socializing season" this winter will include 25 hours of mingling at 11 different festive events, and $788 spent on new outfits, according to new research.

The average respondent plans to make about four shopping trips to prepare for their festive schedule, and 55% of socializing respondents have bought something for a holiday party and never worn it again.

However, 44% of those surveyed say they would look forward to socializing more if they felt confident in their outfit.

For this story and more from the NASDAQ, click the play button above for Friday’s Money Matters report.