Holiday Shoppers are catching the Spending Spirit.

Burst Media released the results of a follow-up study to its annual holiday spending survey conducted this past September. The supplemental study of 2,500 U.S. online adults aged 18 or older who will shop for holiday gifts this year was conducted in the first week of November and found that most (88.9%) holiday shoppers still have purchases to make. The study also found that among holiday shoppers who have completed their purchases, a considerable number spent more on holiday gifts in 2010 compared to 2009.

Among holiday shoppers who have completed their purchases (11.1% of all respondents), 43.4% say compared to last year they either spent much more or somewhat more on holiday gifts (27.7% and 15.7%, respectively). Nearly one-quarter (25.3%) say they spent about the same as last year, and only 15.5% say they spent less. In comparing these survey findings to Burst’s September study, actual holiday spending to-date is outpacing consumer expectations of two months ago. In September, only 17.4% of consumers said they would spend more on holiday gifts this year compared to last, and one-third (36.0%) expected to spend the same. While these figures are currently in-line with the spending expectation of consumers who have yet to finish or start shopping, the measured upswing in spending by those who have finished shopping is a positive indicator that shoppers still in-market may open their wallets wider for spending on family and friends in 2010.

The early November Burst study also found more than one-half (57.1%) of holiday shoppers who have completed their purchases say they made some online. Among these online shoppers, 45.1% say they purchased more this year and 35.1% say they purchased about the same amount of holiday gifts online versus 2009. Additionally, more than one-third (34.7%) of consumers who have finished holiday shopping say they used debit card(s), cash and/or checks more frequently this year than they did last year.

“With Thanksgiving a week away, crunch time is here and holiday shoppers are poised to hit the stores and the web to make their purchases,” said Mark Kaefer, Director of Marketing at Burst Media. “Given signs that consumers may be spending more than expected, retailers have reason to be optimistic.”