All those romantic souls who want to strike an emotional note with a handcrafted gift might be in luck: 35.8% of women would love a handmade present. Not only do they look better, but they’re also fully biodegradable and support American business, while the fake ones are usually made in China. Inflation, which has averaged 1.67% over the same decade accounts for some, but not all of the increase. Of all those surveyed, 30 percent, however, plan on spending over $1,000. We can add to this number the 30% of shoppers who have a vague idea of what they want to buy, but rely on in-store inspiration to make the final decision. Giving Tuesday is a global initiative that encourages people to donate their time and money to charitable causes on the Tuesday after Thanksgiving. Consumers spend an average of $200 each on decorations each Christmas season. If you buy them after Christmas, can they even be considered Christmas gifts? Of course, even socks are better than nothing. In 2014, the overall figure was $842.37 billion, meaning that Christmas spending has increased by $160 billion in just four years. This is the time of the year when people get together, enjoy some good old family time and, of course, spend copious amounts of money. The remaining $985 goes towards costs like entertaining, going out, and buying outfits to wear during festive celebrations. You can learn more about the standards we follow in producing accurate, unbiased content in our. Planned versus actual holiday spending is a mystery for now. Research shows that 59% of high-income households do their holiday shopping online, compared to around 46% of low-income families. ", One thing we do know is that COVID has led to a shift in holiday-spending priorities. I think it'd be more reasonable to spend between $100 and $200 on all of your kids combined (i.e, $25 to $50 per child). A few are willing to let the price go above $1,000, while there are some who plan on spending less than $250. NRF Chief Economist, Jack Kleinhenz says he believes actual spending will be "more than anyone would have expected just a few months ago." For men, Christmas shopping seems to be a lot simpler. There’s nothing worse than watching that special someone put on a fake smile after receiving an unwanted Christmas gift. © 2021 Copyright fortunly All rights reserved, 15 Insightful Pet Spending Statistics: Americans are Spending More on Pets Than Ever, 40 Eye-Opening Health Insurance Statistics You Need to Know. Consumers Prioritize Spending on Family, Friends Ahead of Holiday Season. NRF expects holiday sales will grow between 3.6 and 5.2 percent. The COVID-19 pandemic is projected to result in decreased spending on travel and increased spending on family and friends. The internet makes it easier to compare prices, find new deals, and get a comprehensive look at what each retailer offers. Stay tuned to see how it turns out. Actual retail holiday period sales, including non-holiday purchases, has averaged 3.2% growth per year, according to the NRF. . 50% of respondents will do their Christmas shopping online, while 47% will do it … Interestingly, 42% of people go real-world shopping to get into the Christmas spirit and experience the holiday atmosphere. That's actually … The average household income was around $50,000. How can both things be true? Last year, holiday retail sales surpassed the trillion-dollar mark (yes, 12 zeros), with U.S. households spending an average of $1,536 during the season. The financial institution questioned 2,000 people on their Christmas spending habits, discovering the average amount people plan on spending on their children, partners and parents. Conversely, our spending on goods such as paints and hardware goes down by 21%, as we delay these jobs until after Christmas. On a slightly more depressing note, Christmas spending stats show that around a quarter of Americans spend nothing on their adult children, while 35.3% don’t buy anything for their friends. Separately, the NRF surveys consumers on planned holiday spending only. His list was funny. On the opposite end of the spectrum, 17 percent only plan on spending between $100 and $249. That’s certainly one of the advantages of traditional shopping, with 60% of Americans agreeing on the matter. News... but not as you know it ... there’s no ‘wrong’ amount to spend on Christmas. Over the past decade, e-commerce has captured an increasing percentage of holiday spending. In 2019, the average amount spent dropped to $1,496. Another 47% go to stores to avoid shipping costs, while the same percentage of people find it easier to get inspiration when shopping in person. A high-income household is defined as one that earns more than $100,000 per year, while low-income households earn less than $50,000. Singles' Day is a holiday celebrated by unmarried people in China on November 11 and is known for being the largest online shopping day in the world. 2 away games for his team, a book and some clothes. £473 is the UK average, apparently. This figure shows how important it is for retailers to invest in effective marketing campaigns that will draw in customers during the holiday season. A survey based on responses from 1,025 U.S. citizens revealed that 49% of them don’t want to spend any money on Christmas decorations. Holiday Spending Statistics 2020. On average U.K. consumers will spend £32 on decorations and £225 on food and drink for the season. By using Investopedia, you accept our, Investopedia requires writers to use primary sources to support their work. Below is a look at the average cost of the American holiday season and a glance at why the cost is steadily rising. For example, while 14.2% of Americans try to reduce money spent on Christmas by selling their things, 5.8% borrow from friends and family. According to data provided by the National Retail Federation (NRF), Americans plan to spend roughly $998 on gifts, food, and decorations in 2020. Of the nearly 2,500 shoppers surveyed to compile Deloitte’s Christmas spending statistics, 61% would offer up their personal information in exchange for special promotions and discounts. The record-breaking figure of $1.002 trillion is the result of an upward trend that has been gaining momentum for years. Based on this, we can assume that most people either wait for special Christmas discounts to do their shopping or are simply lazy too disorganized to buy their gifts in advance. Learn about online savings accounts with the highest interests and lowest fees. 20% of consumers anticipate taking on debt due to Christmas shopping, with the average amount of debt being $720. Another 60% would reveal this information to get some sort of personalized shopping experience. Choosing the right present for someone is no easy task, especially when we’re talking about buying gifts for loved ones. For nearly a quarter of Americans, Christmas is the most likely time of the year to go into debt, according to a LendEDU survey about the average cost of Christmas. Many Americans still rely on desktop and laptop computers to find their perfect Christmas gifts. WASHINGTON, D.C. -- Americans predict they will spend an average $805 on Christmas gifts this year, significantly below their estimate a year ago ($942) and the lowest October holiday spending projection Gallup has measured since 2016. Average Christmas Spending The average American planned to spend $942 on holiday gifts in 2019. "2020 Overview." Average Spending on Christmas 2020 Based on the data we gathered, statistics show that the spending average for Americans will be more or less $805 only. Behind the Fortunly name stands a group of enthusiasts — connoisseurs of all things financial — united around a single mission: to make the complicated world of money accessible to everyone. On average consumers will spend $50 or more on flowers, cards, and postage. Spending on food and alcohol also increases, going up by an average of 20% and 38% respectively. The number of holiday shoppers spending online is increasing every year, which isn’t all that surprising. They say you first have to love yourself before you can love someone else, and these holiday statistics seem to confirm that. Chances are this trend will continue in the future, with mobile phones slowly becoming dominant in every sphere. 1. In 2019, around 70% of consumers used smartphones for holiday purchases. £473 is the UK average, apparently. When you’re buying a product, you want to make sure it’s not faulty, damaged, or misrepresented. Sometimes, if they spend too much (say, more than $50) I even ask them (politely) to return the gifts. In these Christmas decoration statistics, 14% said that they’d be happy to just receive decorations as holiday gifts. COVID-19 is expected to shift priorities, resulting in less spending on travel and more spending on family and friends. Nevertheless the NRF projects that overall holiday sales will grow between 3.6% and 5.2%. Keep in mind, though, that these stats about Christmas are merely consumer self-assessments. Dave offers some guidelines. Accessed Nov. 30, 2020. Thanksgiving has come and gone; the winter holiday shopping season is upon us, though in a much more "cyber" form. That won't change the basic theme: Shoppers will feverishly continue to try to find the perfect meaningful gifts for everyone on their list.Â. Around 13% of respondents have spent between £250-£300. How much you spend in general According to a November poll conducted by Gallup, the average shopper intends to spend an average of $830 on gifts this year. It rose by 13.1%, as per data from Adobe. That’s why more than half of Americans value a straightforward return policy when purchasing gifts. A slightly lower percentage (46%) would be thrilled to get a weekend break or a holiday. Even with the slight dip in planned holiday spending for 2020, Americans on average plan to spend—and, in fact, do tend to spend—more with almost every new holiday season. Last year, the average American planned to spend around $1,048 on Christmas shopping. Your email address will not be published. National Retail Federation. Despite that, research has also shown an increase in the popularity of large-scale merchants, from 44% in 2017 to more than half in 2019. Compared to last year’s average of $942, which was the highest in the last 8 years, it is … "NRF expects holiday sales will grow between 3.6 and 5.2 percent." No holiday season in recent memory has had to factor in the impact of a pandemic on the cost of decorating, giving, and celebrating. Christmas stats from the National Christmas Tree Association show that there are around 350 million Christmas trees growing on U.S. farms, which is more than enough to satisfy the market’s demands. Fortunately, nearly half of Americans understand the struggle from the other end and don’t mind lying to protect their loved ones’ feelings. Nearly every year since 2009, American consumer spending on holiday gifts and other holiday expenses has increased over the previous year. Consumers anticipate spending an average $942 on Christmas gifts this year, up from $885 at the same time in 2018 and the highest October estimate in Gallup trending of this measure. Only 4% of intend to spend more on Christmas this year, while 10% are unsure if their spending habits will change. In 2019, the average cost of Christmas is $668, up from $633 in 2018. "Projected annual inflation rate in the United States from 2010 to 2021." Undoubtedly, as technology continues to advance, online Christmas shopping will only increase in the future. If we also consider the percentage of middle-income earners who do their Christmas shopping online (53%), we can see a clear pattern emerging. Accessed Dec. 1, 2020. Usually, the festive season during Christmas and New Year is a period of celebrations which comes with higher than normal spending. Men are planning to spend £458.13 on Christmas presents in 2020, £37.31 more than Women who are expected to spend £458.13 on average this year. My response probably won't help you but my ds is 15 and I spend approx £500 on him at Christmas, possibly more. $2.2 billion will be used to purchase over 400 million Christmas trees for the season. Younger generations have dramatically improved our overall ecological consciousness score, with nearly two-thirds of shoppers now willing to pay extra for certified sustainable products. When it comes to omnichannel average Christmas spending, a slightly higher percentage of people research online and buy in-store than vice versa: 66% compared to 54%. Nearly a quarter (23.5%) of men probably feel unloved after getting no presents whatsoever for Christmas. Although this might seem like extreme behavior, it’s actually a much better option than some other alternatives. Various polls show families with children under the age of 18 will spend anything from £1,000 to more than £2,700 in total at Christmas, with gifts making up the vast majority of the spend. According to Christmas statistics, women are more compassionate and, therefore, more likely (51.4%) to have lied than men (35.5%). So I asked some fellow mums and dads what they spend on Christmas presents for their kids and was surprised at the response – ranging from £10 to almost £700! Unlike those last-minute shoppers from the previous stat, more than a quarter of Americans don’t leave anything to chance by starting their Christmas shopping in November. When it comes to high-end generosity, 12.5% of Americans spend more than $300 on their spouses during Christmas. Holiday gifts, self-spending and more. For 2020, Americans, on average, expect to spend $998 … In 2018, U.S. households spent an average of $1,536 during the Christmas holidays. Most of it, on average $589, will go to gifts, out of a total $796 that the average person will spend. Spending falls into three major categories: Gifts for family, friends and coworkers: $650; Non-gift holiday purchases such as food, greeting cards and decoration: $230 Over half (53%) of those who changed their holiday travel plans said they are likely to spend more on family and friends this year, specifically because they will not be traveling., Americans' actual spending has increased each holiday season since 2010 and they are expected to continue that tradition in 2020. These include white papers, government data, original reporting, and interviews with industry experts. And yet, here we are with planned holiday spending down slightly and overall holiday period spending expected to be up 3.6% to 5.2%, beating the 3.2% per year increase in spending over the past decade., Another factor to consider is "planned" versus "actual" spending, something we won't know until the holidays are over. We’ll highlight some (worryingly) high Christmas spending figures, before finishing with some interesting facts about holiday shoppers’ habits. To gain a better understanding of how much Americans spend and why, we’ve compiled a list of more than 20 important Christmas spending statistics. One could argue that the whole concept of gift cards doesn’t really fit in with the Christmas spirit, but the 53% of Americans who buy them clearly disagree. Only about a third of that figure represents the average amount spent on Christmas gifts and gift cards: $511. document.getElementById("comment").setAttribute( "id", "aa57a01ec926e4863c6b98ece3e457d8" );document.getElementById("a701df5ea3").setAttribute( "id", "comment" ); Save my name, email, and website in this browser for the next time I comment. In 2017, 46% of respondents in a survey about Christmas spending said they use their mobile phones for online shopping, which is a 6% increase from the preceding year. While some might lament this lack of exaggerated festivity, we might be looking at the start of a new, thrifty, environmentally conscious trend. Whether or not this decision pays off in the long run remains to be seen. The rest will be spent on holiday items including candy and food (about $100), decorations (about $50), greeting cards and postage, and flowers and potted plants. For the 2017 Holiday season, the average American is set to spend around, a significant increase from last year's figure of $785. In a few states Americans whose average income is between $40,000 and $45,000, lower than the national average of $48,000, are willing to spend as … Ecommerce spending in the United States posted another new record, reaching a peak of $142.5 billion. Nearly a third of men want gift vouchers, but only around 20.3% of them actually get them. These big holiday shoppers expect to be around $554 in debt on average once the holidays are over. The NRF projects retail sales over the holidays (Nov. 1 through Dec. 31) including "traditional holiday purchases but also items not specifically for holiday celebrations." For 2020, Americans, on average, expect to spend $998 on gifts, holiday items, and other expenses during the holiday season, down $50 from 2019. As times have changed and these holidays are more commercialized, spending is definitely bound to be high. Nearly every year since 2009, American consumer spending on holiday gifts and other holiday expenses has increased over the previous year. If they use social media at all, they are likely influenced by dozens of ads on a daily basis. Arrows pointing outwards. Oh and new Turtle Beach headphones for Xbox One. The leader of the pack is Generation Z (87%), followed by millennials (75%), while Generation X (62%) falls just behind the overall average. Personally, I hate it when my parents and other relatives spend too much on Christmas/birthday gifts. Indeed, it’s one of the lesser-known Christmas shopping facts that more than half of Americans use this holiday to buy themselves gifts, too. The average American who celebrates Christmas planned to spend $633 in total this year, according to a LendEDU survey of 1,000 adults. Wales is set to be the biggest spending part of the UK this year with a household spend of £460. And a common question I hear among parents is, “How much are you spending on your kids for Christmas?” I have 6 children, ranging from infant to middle schooler. The numbers show that physical stores still get the largest slice of the Christmas pudding, with purchases at brick-and-mortar stores representing 87.7% of average Christmas spending. The statistics acquired through this study for the current calendar year were based on spending "intentions". With a high chance that they’re lying to protect your feelings, you’ll never really know if you’ve got the right gift for your better half. If you make $25,000, then you would be half of average, and you should have as your guideline for your whole Christmas budget about half of the average, or about $400. So, even though it’s easier to shop online, Americans still love to buy in-person when the Christmas holidays come around. This year his dad his got him a Mac, I've bought all smaller stuff. A study of 2,000 adults found celebrating the festive season by buying presents, food and drink, and outfits for parties will see them splash out an average of £973.80 per person. Christmas is one of the biggest and most significant holidays in the U.S.A. First off, we’ll examine what Americans are buying and how much they’re paying for it. Projected annual inflation rate in the United States from 2010 to 2021. For nearly half of the U.S. women surveyed in the making of these Christmas spending statistics, diamonds are still a girl’s best friend. One in five (19%) of holiday shoppers say that they typically travel for the holidays but will stay home instead this year. Simply put, while consumers plan to spend slightly less on holiday expenses, they are expected to spend more overall during the holiday season., In 2010, Americans planned to spend an average of $831 on the winter holidays. Some people take the holiday season even more seriously, with 4.2% getting loans to cover their Christmas spending. The average spending among people who bought Christmas gifts and budgeted in 2019 was $878.21. "Consumers Prioritize Spending on Family, Friends Ahead of Holiday Season." Shoppers are slightly more cautious when it comes to their planned holiday-specific spending, indicating an expected slight ($50) decrease from planned spending in 2019. . Learn about the history of Black Friday, from its evolution to what it means for shoppers and retailers. Based on NRF’s annual consumer spending survey, Americans plan to spend an average of $997.79 this year, down 5% from last year ($1,007.24). Spending on video and music equipment and books grows the most, with book sales doubling in December. Under £100 “I’ve just done my kids stockings in the pound shop; £10 for my three-year-old and £8 for my one-year-old,” says Aleena at Mummy Mama Mum . There are numerous benefits to online shopping; it’s fast, easy, and allows you to avoid massive crowds. Another 32% want clothing for Christmas, but nearly half (45.6%) receive it, suggesting that around 13.5% aren’t too thrilled with their hand-knitted socks from grandma. However, this amount is not equal for men and women. Accessed Nov. 30, 2020. Even the most senior among us are doing their bit, with more than half (53%) prepared to spend extra for the planet’s sake. 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