by Art Piccio . March 11th, 2015
For retailers and other cash-based businesses, tax refund season is a perfect time to do promotions, given that around 20% of the $3,120 (around $624) will likely be spent on splurges and that less then half (46.9%) will be placed in a savings account. Businesses that rely on travel and tourism spending will also be interested in the $405.60 average from tax refunds that can expect to get.
How else will Americans spend their tax refunds? Credits to DriveTime.
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Arthur Piccio manages YouTheEntrepreneur and has managed content for major players in the online printing industry. He was previously BizSugar's contributor of the week. His work has appeared multiple times on The New York Times' You're the Boss Small Business Blog. He enjoys guitar maintenance and reading up on history and psychology in his spare time.