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. 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. Only 4% of intend to spend more on Christmas this year, while 10% are unsure if their spending habits will change. 20% of consumers anticipate taking on debt due to Christmas shopping, with the average amount of debt being $720. 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. So, even though it’s easier to shop online, Americans still love to buy in-person when the Christmas holidays come around. When you’re buying a product, you want to make sure it’s not faulty, damaged, or misrepresented. 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. For Christmas shoppers, that price comes in the form of coupons. Cyber Monday is the Monday following American Thanksgiving, representing the day online retailers offer deep discounts. In 2019, the average amount spent dropped to $1,496. In addition to that, Christmas shopping stats show 71% of shoppers feel it’s important the shop offers high-quality products in the first place, while 68% want a large variety of products to choose from. 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. In these Christmas decoration statistics, 14% said that they’d be happy to just receive decorations as holiday gifts. In 2019, around 70% of consumers used smartphones for holiday purchases. We’ll look at some interesting differences between men’s and women’s habits, and how their Christmas wish lists differ. 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. 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. 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. 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. The remaining $985 goes towards costs like entertaining, going out, and buying outfits to wear during festive celebrations. They say you first have to love yourself before you can love someone else, and these holiday statistics seem to confirm that. While some might lament this lack of exaggerated festivity, we might be looking at the start of a new, thrifty, environmentally conscious trend. 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. 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." "Winter Holiday FAQs." Investopedia uses cookies to provide you with a great user experience. 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. Nearly every year since 2009, American consumer spending on holiday gifts and other holiday expenses has increased over the previous year. This year's average of $998 represents a 20% increase over the decade or an average increase of 2% per year. "After all they’ve been through," Kleinhenz says, "we think there’s going to be a psychological factor that they owe it to themselves and their families to have a better-than-normal holiday. While 72% of respondents were confident their holiday spending wouldn’t result in debt, the remaining 6% decided not to answer the question. On the other hand, those people who are willing to accept social media influence say they mostly take advice from their friends and/or family. Accessed Dec. 1, 2020. For men, Christmas shopping seems to be a lot simpler. Third on the wishlist are gift vouchers, with 42.2% of women saying they’d be happy to receive some credit at their favorite shop. Holiday gifts, self-spending and more. Among these self-loving shoppers, 42% splash out on food and liquor, while 40% treat themselves to some new clothes. 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. By using Investopedia, you accept our, Investopedia requires writers to use primary sources to support their work. Your email address will not be published. What Is Singles' Day and Will Americans Celebrate It, Too? However, grandfathers actually spend more on holiday gifts ($244) than grandmothers spend … In 2018, the amount spent on gifts was the highest it’s been in nearly 10 years: $525. COVID-19 is expected to shift priorities, resulting in less spending on travel and more spending on family and friends. On average, people tend to spend around $850 on Christmas gifts. Over the past decade, e-commerce has captured an increasing percentage of holiday spending. Sometimes, if they spend too much (say, more than $50) I even ask them (politely) to return the gifts. 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. A slightly lower percentage (46%) would be thrilled to get a weekend break or a holiday. These big holiday shoppers expect to be around $554 in debt on average once the holidays are over. 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. 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. The average household income was around $50,000. For 2020, Americans, on average, expect to spend $998 … 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. 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. Spending on video and music equipment and books grows the most, with book sales doubling in December. This time of year, even last minute shoppers have begun to think about Christmas gifts for their kids. The sharp decline in Americans' spending intentions since 2019 points to weak holiday sales for retailers. 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. Many Americans still rely on desktop and laptop computers to find their perfect Christmas gifts. But among those who bought gifts and didn't budget, the average amount spent was $992.33. Between gifts, holiday parties, and decorations, the season in America seems to be getting more and more extravagant (and expensive). "2020 Overview." 2 That might sound like a whole lot or not nearly enough, depending on who you are. … Learn about online savings accounts with the highest interests and lowest fees. From the shopping frenzies of Black Friday and Cyber Monday to the last-minute sales just before the actual holidays happen, the American commercialization of the holidays plays a big part in how much the average American pays for all of his or her holiday expenses over Thanksgiving, Christmas, Hanukkah, and Kwanzaa. When it comes to high-end generosity, 12.5% of Americans spend more than $300 on their spouses during Christmas. Some people take the holiday season even more seriously, with 4.2% getting loans to cover their Christmas spending. Last year, the average American planned to spend around $1,048 on Christmas shopping. That’s why more than half of Americans value a straightforward return policy when purchasing gifts. 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. Although this might seem like extreme behavior, it’s actually a much better option than some other alternatives. Conversely, our spending on goods such as paints and hardware goes down by 21%, as we delay these jobs until after Christmas. The average American who celebrates Christmas planned to spend $633 in total this year, according to a LendEDU survey of 1,000 adults. Along with consumers' record-high average spending estimate, the new poll finds 37% of Americans saying they will spend $1,000 or more on gifts. On average U.K. consumers will spend £32 on decorations and £225 on food and drink for the season. 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. 50% of respondents will do their Christmas shopping online, while 47% will do it … The average American will spend between $1,000 and $2,000 on holiday gifts in 2020 despite pandemic -induced financial hardship that has fallen on many U.S. families, research shows. The second most common amount to spend at Christmas was under £100, with 21% saying that was their usual budget. 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. 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. In 2019, holiday sales surpassed the trillion dollar mark for the first time, with average US spending coming to $1,536 for every household, as per eMarketer. Nearly every year since 2009, American consumer spending on holiday gifts and other holiday expenses has increased over the previous year. National Retail Federation. Choosing the right present for someone is no easy task, especially when we’re talking about buying gifts for loved ones. "Projected annual inflation rate in the United States from 2010 to 2021." Projected annual inflation rate in the United States from 2010 to 2021. It appears privacy has its price. Of all those surveyed, 30 percent, however, plan on spending over $1,000. 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. Holiday Spending Statistics 2020. Accessed Dec. 1, 2020. Combined, these indecisive shoppers represent nearly half of American Christmas consumers. Inflation, which has averaged 1.67% over the same decade accounts for some, but not all of the increase. Consumers Prioritize Spending on Family, Friends Ahead of Holiday Season. ANSWER: The average last year was around $800. 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. On the opposite end of the spectrum, 17 percent only plan on spending between $100 and $249. The leader of the pack is Generation Z (87%), followed by millennials (75%), while Generation X (62%) falls just behind the overall average. Households in Scotland and northern England will spend more than average at … The average amount that grandparents spend on holiday gifts for their grandkids is $218 per child. The National Retail Federation’s annual survey of holiday spending estimates the typical American will spend $659 on gifts for family, friends, and co-workers in 2019. Although fake Christmas trees are becoming more and more popular, for many Americans, nothing beats the real thing. These include white papers, government data, original reporting, and interviews with industry experts. £473 is the UK average, apparently. 2017 Spending Outlook. £473 is the UK average, apparently. 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. National Retail Federation. 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). According to Christmas statistics, women are more compassionate and, therefore, more likely (51.4%) to have lied than men (35.5%). 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. What’s even more interesting is the fact that gift cards are in high demand. 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. 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. 1. 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. "Consumers Prioritize Spending on Family, Friends Ahead of Holiday Season." The average spending among people who bought Christmas gifts and budgeted in 2019 was $878.21. Accessed Nov. 30, 2020. It rose by 13.1%, as per data from Adobe. No holiday season in recent memory has had to factor in the impact of a pandemic on the cost of decorating, giving, and celebrating. *. Therefore, the overall total spend of men and women is estimated to be the same, around £12.1 billion. Actual retail holiday period sales, including non-holiday purchases, has averaged 3.2% growth per year, according to the NRF. . However, this amount is not equal for men and women. NRF Chief Economist, Jack Kleinhenz says he believes actual spending will be "more than anyone would have expected just a few months ago." $2.2 billion will be used to purchase over 400 million Christmas trees for the season. Then we’ll focus on what payment methods people use and whether they prefer to buy gifts online or in person. The number of holiday shoppers spending online is increasing every year, which isn’t all that surprising. Compared to last year’s average of $942, which was the highest in the last 8 years, it is … If we also consider the percentage of middle-income earners who do their Christmas shopping online (53%), we can see a clear pattern emerging. Keep in mind, though, that these stats about Christmas are merely consumer self-assessments. Personally, I hate it when my parents and other relatives spend too much on Christmas/birthday gifts. In fact, stats show that men spend around $20 more on their partners than women do. ", One thing we do know is that COVID has led to a shift in holiday-spending priorities. News... but not as you know it ... there’s no ‘wrong’ amount to spend on Christmas. 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! 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. According to the most recent survey, the average American spends $271 per kid. Accessed Nov. 30, 2020. Research shows that 59% of high-income households do their holiday shopping online, compared to around 46% of low-income families. Average Christmas Spending The average American planned to spend $942 on holiday gifts in 2019. Oh and new Turtle Beach headphones for Xbox One. Around 13% of respondents have spent between £250-£300. Undoubtedly, as technology continues to advance, online Christmas shopping will only increase in the future. Nearly a third of men want gift vouchers, but only around 20.3% of them actually get them. Accessed Nov. 30, 2020. In 2018, U.S. households spent an average of $1,536 during the Christmas holidays. Christmas Spending Facts: Amounts 12. Whether or not this decision pays off in the long run remains to be seen. 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. Nevertheless the NRF projects that overall holiday sales will grow between 3.6% and 5.2%. 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. 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 . 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. 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. . One in five (19%) of holiday shoppers say that they typically travel for the holidays but will stay home instead this year. Spending on food and alcohol also increases, going up by an average of 20% and 38% respectively. The statistics acquired through this study for the current calendar year were based on spending "intentions". That's actually … 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. 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%. National Retail Federation. 2 away games for his team, a book and some clothes. A few are willing to let the price go above $1,000, while there are some who plan on spending less than $250. There are numerous benefits to online shopping; it’s fast, easy, and allows you to avoid massive crowds. How can both things be true? 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. We’ll highlight some (worryingly) high Christmas spending figures, before finishing with some interesting facts about holiday shoppers’ habits. 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. This year his dad his got him a Mac, I've bought all smaller stuff. For 2020, Americans, on average, expect to spend $998 on gifts, holiday items, and other expenses during the holiday season, down $50 from 2019. This is according to a Censuswide survey of both U.S. and U.K. shoppers from 2018. But let’s get one thing straight: You should never feel pressured to spend … Of course, even socks are better than nothing. Also Read This Interesting Article on The Price of a Christmas Meal for The Entire Family Below is a look at the average cost of the American holiday season and a glance at why the cost is steadily rising. As a childless 20-something, I can't exactly get it down to a science how much I'd be willing to spend per child on my kids' Christmas gifts in the future, but as a former nanny, I … If they use social media at all, they are likely influenced by dozens of ads on a daily basis. Wales is set to be the biggest spending part of the UK this year with a household spend of £460. Usually, the festive season during Christmas and New Year is a period of celebrations which comes with higher than normal spending. The 77% of people who say they don’t plan on using social media for advice might not even have a say in that. 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. 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. The COVID-19 pandemic is projected to result in decreased spending on travel and increased spending on family and friends. His list was funny. Dave offers some guidelines. The survey also shows that American shoppers appear to be better prepared than their British counterparts, only 24.4% of whom begin their Christmas hunt in November. Looking at the numbers above, it's clear consumers plan to spend slightly less on the winter holidays for 2020 versus 2019. Consumers spend an average of $200 each on decorations each Christmas season. Interestingly, 42% of people go real-world shopping to get into the Christmas spirit and experience the holiday atmosphere. According to data provided by the National Retail Federation (NRF), Americans plan to spend roughly $998 on gifts, food, and decorations in 2020. Arrows pointing outwards. Despite that, it’s hard not to notice the emerging mobile-first trend. The Amazon effect refers to the ongoing evolution and disruption of the offline retail market resulting from an increase in e-commerce activities. Giving Tuesday is a global initiative that encourages people to donate their time and money to charitable causes on the Tuesday after Thanksgiving. There’s nothing worse than watching that special someone put on a fake smile after receiving an unwanted Christmas gift. "NRF expects holiday sales will grow between 3.6 and 5.2 percent." We also reference original research from other reputable publishers where appropriate. 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). Ecommerce spending in the United States posted another new record, reaching a peak of $142.5 billion. 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. Most of it, on average $589, will go to gifts, out of a total $796 that the average person will spend. People spend this money on a number of things such as gifts, food, vacations, and outings. 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. 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 If you buy them after Christmas, can they even be considered Christmas gifts? The record-breaking figure of $1.002 trillion is the result of an upward trend that has been gaining momentum for years. 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. A doorbuster is a strategy retailers use to get a high volume of customers into their stores by offering big discounts for a limited time. In 2019, the average cost of Christmas is $668, up from $633 in 2018. 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. NRF expects holiday sales will grow between 3.6 and 5.2 percent. Learn about the history of Black Friday, from its evolution to what it means for shoppers and retailers. Nearly a quarter (23.5%) of men probably feel unloved after getting no presents whatsoever for Christmas. Only about a third of that figure represents the average amount spent on Christmas gifts and gift cards: $511. Plan how much you’ll spend this year. 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. You can learn more about the standards we follow in producing accurate, unbiased content in our. This figure shows how important it is for retailers to invest in effective marketing campaigns that will draw in customers during the holiday season. In fact, these holiday spending statistics show that 7% of people do their shopping on the day before Christmas, while an additional 4% from go one step further and purchase gifts after the holiday has passed. The average American plans to spend just $886, down 10% from their planned spending last year, according to the survey. First off, we’ll examine what Americans are buying and how much they’re paying for it. Another 60% would reveal this information to get some sort of personalized shopping experience. Chances are this trend will continue in the future, with mobile phones slowly becoming dominant in every sphere. Planned versus actual holiday spending is a mystery for now. 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. My response probably won't help you but my ds is 15 and I spend approx £500 on him at Christmas, possibly more. 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 … Even the most senior among us are doing their bit, with more than half (53%) prepared to spend extra for the planet’s sake. © 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. Are these Americans unsure about how much they spend or embarrassed about not managing their finances properly? That’s certainly one of the advantages of traditional shopping, with 60% of Americans agreeing on the matter. Stay tuned to see how it turns out. For the 2017 Holiday season, the average American is set to spend around, a significant increase from last year's figure of $785. Separately, the NRF surveys consumers on planned holiday spending only. This is down about $50 from 2019 planned spending, with almost all of the decrease ($45) coming from the non-gift purchases category., Planned holiday spending breaks down to $650 on gifts for family, friends, and co-workers; $230 on non-gift holiday items including food and decorations; and $117 on other non-gift items for self or family., A significant chunk of that spending will be online, according to the NRF which expects online and other non-store sales to increase between 20% and 30% ($202.5 billion to $218.4 billion) up from $168.7 billion in 2019., Average amount consumers expect to spend on winter holidays in 2020. 2009, American consumer spending on travel and increased spending on travel and more spending video. 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