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One Quarter of Americans Have Yet to Start Holiday Gift Shopping

Sean Gallup/Getty Images(YONKERS, N.Y.) -- The percentage of last minute shoppers is on the rise compared to last year, according to a new Consumer Reports survey.

As of Dec. 19, 25 percent of adults had not yet begun to shop -- that’s up from 17 percent for the same time period in 2010.

The number one reason cited for not getting started was a lack of money, followed by the belief that they still have plenty of time.  Approximately one-third of respondents are simply procrastinators.  One in four of those who are not finished holiday shopping will be hitting the stores on Christmas Eve.

Although a majority of respondents said they always finish their holiday shopping on time, four in 10 do not, forcing them to explain the lack of a gift to persons on their list.  Some of the common steps they’ve done or said include:

-- Promised a future gift or gave an “IOU” - 41 percent.
-- Did nothing - 31 percent.
-- Gave a homemade gift certificate, such as a night of babysitting - 17 percent.
-- Lied and said something like, “It’s in the mail” or “I forgot it at home” - 17 percent.
-- Gave the person a re-gifted item - 12 percent.
-- Avoided the person to save on their gift - 12 percent.

The Consumer Reports survey involved 1,011 U.S. adults.

Copyright 2011 ABC News Radio

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