In 2022, consumers in the United States expected to spend approximately 920 U.S. dollars on Christmas gifts on average. This is a slight decrease compared to the previous year.
Holiday shopping
The Christmas, or holiday season, is the single most critical sales period of the year for many retailers: this period includes days, such as Black Friday and Cyber Monday, and an increasing amount of Americans also shop online during this busy time. With so many consumers actively spending and buying for the holidays, it comes to no surprise that over 80 percent of retailers in the United States participated in these two shopping events in 2022.
Gift cards and vouchers
Christmas is a public holiday in the United States and is celebrated on December 25th each year. It is known as a big economic stimulus for many people to purchase Christmas gifts for their beloved family and friends. After Christmas and New Year’s Eve, retail sales often peak again in January as many people redeem their received Christmas gift cards and vouchers. In fact, over half of U.S. consumers planned to buy gift cards or gift certificates for others. It is a popular gifting option, with many Americans indicating that it can be very convenient.
FAQs
How Does Christmas Spending Break Down? Americans spend approximately $997.73 on Christmas each year. That's roughly the equivalent of the median pre-tax weekly salary of $1,001.
Is Christmas spending up this year? ›
According to the National Retail Federation, holiday spending is expected to reach $957.3 billion to $966.6 billion in 2023, 3% to 4% more than in 2022 — the smallest annual increase since 2018 to 2019. Last year, average consumer holiday spending amounted to $1,430.
How much does Christmas add to the economy? ›
Christmas is typically the largest economic stimulus for many nations around the world as sales increase dramatically in almost all retail areas during this time. In 2023, total holiday retail sales were projected to have reached new highs of 957 billion U.S. dollars.
What is a reasonable Christmas budget? ›
What is a Realistic Budget for Christmas Gifts? A realistic budget for Christmas gifts depends on individual financial circ*mstances. However, a common guideline is to allocate around 1-2% of your annual income for gifts.
Which country spends the most on Christmas? ›
In 2023, total retail sales (online and in-store) during Christmas season was forecast to reach 84.9 billion British pounds in the United Kingdom (UK), making this the largest Christmas season spender.
What holiday is the most money spent on? ›
Christmas, New Year's Eve, and Valentine's Day are the most popular holidays for spending money worldwide.
How to afford Christmas this year? ›
When budgeting for Christmas, consider:
- Setting price limits for presents.
- Organising a Secret Santa to minimise your gift-buying.
- Calculating the amount of money you can afford to spend.
- Having honest conversations about financial limits.
- Cutting inessential costs (e.g. new party clothes)
You'll see a lot of deep discounts on products ranging from electronics to clothing, and just about every other retail item that is updated in the January inventory turnover. You will need to plan ahead to make the most of post-holiday sales.
What is the most given gift at Christmas? ›
Christmas gifts most desired by U.S. consumers in 2023
| Characteristic | Share of respondents |
|---|
| Money (cash or transfer) | 43% |
| Vouchers / gift cards | 38% |
| Clothing, textiles, shoes | 35% |
| Cosmetics, perfume, body care | 24% |
9 more rowsNov 30, 2023
Retailers generally get a large part of their profits in the Christmas season, for many other businesses that same period is slow and profits are lower than the rest of the year.
Clearpoint, the credit-counseling nonprofit, suggests a simple target for holiday budgeting: Plan to spend 1.5% of your annual income. For a family that earns $75,000 a year, that works out to $1,125. Sliding buttons allow you to allocate shares of the total to gifts, parties, travel, donations and food.
What is the average Christmas spending per person? ›
According to the National Retail Federation (NRF), the average American plans to spend $826 in 2022 on Christmas gifts, food, and decorations. Of that $826 dollars, around 500 are spent on gifts for family members. The most popular of these gifts are clothing, toys, and gift cards.
How much do couples spend on each other for Christmas? ›
If you have been dating for less than a year, it is appropriate to spend a maximum of $50. A budget of around $100 is standard for longer relationships. If you're married, $100 is the median amount, and the top 25% of couples spend $300.
What is a good amount of money to give for Christmas? ›
The Budgeting Basics
A common rule of thumb is that you should spend about 1-2% of your yearly income on gifts. But the key is to set a budget that fits your financial situation and priorities, so you can enjoy the holiday season without worrying about money.
How much do people spend per child for Christmas? ›
The doctor's claims come as a new survey uncovered that 70% of American parents plan to spend $200 or less on each child this holiday season. The survey, conducted last month by Statista, uncovered that almost one in 10 parents (9%) will spend $25 or less on each child.
How much does the average American eat on Christmas? ›
— -- The average person eats more than 7,000 calories on Christmas day, research carried out by Associated British Foods recently found. That's more than three times the U.S. Department of Agriculture's recommended daily caloric intake.
