What are your thoughts on spending during the holiday season?
Do you think it is necessary to purchase a lot of gifts in order to show loved ones how much you care?
According to recent statistics, consumers are projected to spend an average of $1,007 per person this year.
That’s a lot of money!
In this blog post, we will take a closer look at holiday spending statistics.
Stay tuned!
Editor Choice: Key Holiday Spending Statistics
- In 2020, holiday retail sales in the United States were forecast to amount to about 755.3 billion U.S. dollars.
- In early November 2020 49% of the shoppers started shopping for winter holidays while this number reached 85% at the end of November.
- In 2020, consumers in the U.S. planned to spend 502 U.S. dollars on average on gifts for the family.
- American will spend almost $1,050 on Christmas presents and delicacies this year, in addition to travel. (National Retail Federation)
- By New Year’s Eve, the average American holiday shopper is expected to spend almost $1,300.
- Ecommerce stores grew by 16.7% and profited by $123.90 billion during the holiday season
- Annual holiday economic forecast estimates that holiday retail sales will increase 4.5–5 percent this year.
- Ecommerce accounted for 20.9 percent of total holiday sales in 2019.
- Americans planned to spend 60 U.S. dollars on average on decorations for the holiday season in 2020.
1. In early November 2020 49% of the shoppers started shopping for winter holidays while this number reached 85% at the end of November.
People begin buying for Thanksgiving, Christmas, and New Year’s Day as early as they possibly can, and they continue to shop until the very last minute of each of these holidays. As reported by the National Retail Federation, in early November 2020, 49 percent of consumers began shopping for winter vacations, with the figure increasing to 85 percent by the end of the month of November.
These figures demonstrate how Americans like celebrating their winter holidays to the fullest extent possible, and how much money they spend on decorations, presents, and food.
(National Retail Federation)
2. In 2020, holiday retail sales in the United States were forecast to amount to about 755.3 billion U.S. dollars.
There has been a consistent increase in retail sales throughout the Christmas shopping season since the beginning of the twentieth century. It is predicted that Christmas retail sales in the United States would reach about 755.3 billion dollars in 2020, according to Statista. Retail sales over the Christmas season are expected to total between $ 755.3 billion and $ 766.7 billion, according to estimates. Because businesses are establishing a digital presence and customers are buying more online throughout the Christmas season, the e-commerce sector is also expanding during this period.
(Statista)
3. Annual holiday economic forecast estimates that holiday retail sales will increase 4.5–5 percent in the year 2019.
According to Deloitte’s annual holiday economic prediction, holiday retail sales are expected to rise 4.5–5 percent in the calendar year 2019. In addition, the rise in online sales will climb to 14 to 18 percent in 2019 as compared to 2018.
The information provided by the source leads us to believe that Christmas retail sales will grow by almost 10% in 2020.
(Deloitte)
4. Ecommerce accounted for 20.9 percent of total holiday sales in 2019.
Without a doubt, after the epidemic, individuals were compelled to remain at home and adhere to safety precautions. This was a period in which in-store retail suffered significantly while internet shopping established new marks.
Ecommerce accounted for 20.9 percent of overall holiday sales in 2019, according to the National Retail Federation. Online and other non-store sales, which are included in the total and are expected to rise between 20 percent and 30 percent during the 2020 holiday season to between $202.5 billion and $218.4 billion, up from $168.7 billion last year, according to the National Retail Federation (NRF).
(National Retail Federation)
5. By New Year’s Eve, the average American holiday shopper is expected to spend almost $1,300.
People spend a lot of money on presents throughout the Christmas season, such as furniture, toys, and greeting cards. They begin buying for the winter holidays as early as November, with the busiest shopping days being Thanksgiving, Black Friday, and Cyber Monday, among others. On days such as Black Friday and other sales promotion days, shoppers purchase large quantities of products and services. Approximately $1,300 is anticipated to be spent on average by American holiday shoppers by New Year’s Eve, according to Western Union.
(Western Union)
6. In 2020, consumers in the U.S. planned to spend 502 U.S. dollars on average on gifts for the family.
According to Statista, shoppers in the United States intended to spend an average of 502 U.S. dollars on presents for their loved ones in the year 2020. Purchasing presents is one of the most popular things to do during the holiday shopping season. The most often purchased presents are technological gadgets, home décor, beauty and personal care products, and smart kitchen appliances.
(Statista)
7. More than 150 million U.S. consumers plan to shop on Super Saturday this year, up slightly from 147.8 million in 2019.
Known as “Super Saturday,” it is the last weekend before Christmas, and people take full advantage of the opportunity while they are still free and able to conveniently buy.
According to the National Retail Federation, more than 150 million people in the United States intend to shop on Super Saturday this year, a small increase over the previous year’s figure of 147.8 million. Customers are expected to shop in-store and online on the final Saturday before Christmas, according to forecasts. 42 percent of those who want to shop will do it exclusively on the internet, according to the survey.
(National Retail Federation)
8. Super Saturday accounts for a significant portion of the holiday sales for retail stores. In 2006, a study determined that sales between December 21 and 24 accounted for 13.6 percent of holiday sales.
According to Wikipedia, Super Saturday accounts for a substantial part of retail sales throughout the Christmas season in the United States. According to a survey conducted in 2006, sales between December 21 and December 24 amounted for 13.6 percent of total holiday sales.
Retailers provide price reductions on Super Saturday in order to make the most of their sales. On this Saturday, businesses extend their hours and hire more employees in order to accommodate the large number of people who will be shopping.
(Wikipedia)
9. During the holiday season, household food expenditures increased 15% compared to baseline , with 75% of additional expenditures accounted for by less-healthy items.
Christmas and the holiday season are all about spending time with friends and family. Food plays an important role in any of the joyful events that we celebrate, and we all have our favorite meals and dishes that we like to indulge in. The same may be seen in the data, which indicate that food expenditures rise over the holidays.
According to the source, household food expenditures rose by 15% over the Christmas season when compared to the previous year, with less-healthy products accounting for 75% of the rise in spending.
(Journals.Plos )
10. Americans planned to spend 60 U.S. dollars on average on decorations for the holiday season in 2020.
According to Statista, Americans expected to spend an average of 60 U.S. dollars on Christmas decorations in 2020, according to the organization. Over the last several years, this number has steadily increased by roughly 20 dollars, indicating a steady rise in purchasing power.
This is due to the fact that as Christmas is approaching, it is impossible to imagine a world without festive lights, trees, and brightly colored wind chimes. Americans spend hundreds of dollars on decorations during the holiday season, whether it is for their homes, hotels, or restaurants. Everyone strives to decorate their space in accordance with the event in order to create a festive appearance and feel.
(Statista)
11. 273 million packages were shipped by the U.S. Postal Service, United Parcel Service Inc. and FedEx Corp. during the week of Thanksgiving, an increase of 43 million from the same week last year.
A total of 273 million parcels were delivered by the United States Postal Service, United Parcel Service Inc., and FedEx Corp. during the week of Thanksgiving, according to the Wall Street Journal, representing an increase of 43 million shipments over the same week last year.
The shipping business usually has a surge in demand during the Christmas season, but in 2020, as a result of the Covid-19 epidemic, the industry has seen an exponential increase in demand as consumers bought online throughout this holiday season.
(Wall Street Journal)
12. In 2018, 25% of the consumers were willing to spend $401 to $800 on holiday gifts.
The source said that 25 percent of customers were ready to spend between $400 and $800 on Christmas presents in 2018.
People want to purchase presents in accordance with their financial resources. There are individuals who spend more than $1200 on presents alone, which is a lot of money.
(Black Friday)
13. In 2020, consumers in the U.S. planned to spend 110 U.S. dollars on average on candy and food.
According to Statista, people in the United States expected to spend an average of 110 U.S. dollars on sweets and other foods in 2020.
The Easter Bunny is the holiday on which the greatest amount of candy is eaten. Annual candy sales accounted for an average of 150 U.S. dollars in monthly sales at convenience shops throughout the United States, according to the latest Statista figures. Due to the fact that the Easter bunny sells the greatest percentage of seasonal sweets throughout the holiday season, the Easter bunny deserves the most credit.
(Statista)
14. Black Friday hit a new record with consumers spending $9.0 billion, an increase of 21.6% over last year.
According to Forbes, Black Friday set a new high-water mark with customers spending $9.0 billion, a 21.6 percent increase over the previous year. Shopping on Black Friday becomes the biggest shopping day of the holiday season since shops offer massive sales discounts and open their doors early on this day.
(Forbes)
15. In 2019, about 26 million real Christmas trees were sold in the United States.
According to Statista, about 26 million genuine Christmas trees were sold in the United States in 2019. This is because Christmas would be unthinkable without a Christmas tree. Most individuals in the United States do not purchase a single Christmas tree, but rather purchase several Christmas trees for various areas of their home, such as a Christmas tree for the living room and another for the dining room.
The sales for Christmas tree rise also because hotels, malls and res
(Statista)
16. The average person in the United States spends approximately $537 on Alcoholic drinks during the holiday season.
According to the source, the typical individual in the United States spends about $537 on alcoholic beverages throughout the course of the Christmas holiday season. During this time of year, people attend parties, dine out, and gather with friends, which encourages them to consume more alcoholic beverages.
(Beverage Daily)
17. Millennials (46%), parents with children under 18 (46%) and those who are already in credit card debt (48%) are the most willing to take on debt – or go deeper into it – this holiday season.
People are not even scared of taking out loans and going into debt in order to spend money for the holidays. It is said that Millennials (46 percent ) and parents with children under the age of 18 (46 percent ) as well as those who are already in credit card debt (48 percent ) are the groups most likely to take on new debt or increase their existing debt levels over the holiday season.
(Credit Cards)
18. In 2020, consumers in the U.S. planned to spend 32 U.S. dollars on average on greeting cards and postage.
Sending holiday greeting cards to friends and family members is one of the most ancient and simplest methods of celebrating the holidays, and Americans continue to spend a significant amount of money on this tradition.
According to Statista, customers in the United States expected to spend an average of 32 U.S. dollars on greeting cards and mail in the year 2020.
(Statista)
19. The e-commerce giant Amazon says it delivered more than 1.5 billion products worldwide during the holiday season, including toys, home products and electronics.
In the digital age, everything is done on the internet, and the online companies that will profit the most from the epidemic are those that operate on the internet. in accordance with the source Amazon, the world’s largest e-commerce company, claims to have shipped more than 1.5 billion items globally over the Christmas shopping season, including toys, home goods, and technological goods.
Toys are among the most popular items purchased, mostly because parents purchase toys as gifts for their children.
(Marketing Chart)
20. Laptops are at the top of consumers’ wish lists this year, while smart speakers like the Amazon Echo and Google Home remain popular Christmas and Hanukkah gifts.
Smart and electronic devices are the gifts that are very popular among Americans and most people collect their money to buy mobile phones and laptops.
According to the source Laptops are at the top of consumers’ wish lists this year, while smart speakers like the Amazon Echo and Google Home remain popular Christmas and Hanukkah gifts.
(Business News Daily)
21. Four out of five Americans (83 percent) typically bake cookies of all baked goods throughout the year.* This increases to 93 percent during the holidays, with 61 percent baking three or more batches of cookies.
When the whole family is together at home over the Christmas season, cooking and baking take precedence over everything else. in accordance with the source Four out of every five Americans (83 percent) make cookies or other baked products on a regular basis throughout the year. During the holidays, this figure rises to 93 percent, with 61 percent of respondents making three or more batches of cookies.
(PR News Wire)
22. 70% of the U.S. consumers will actively seek promotions and coupons when holiday shopping this year.
70% of U.S. customers would actively seek deals and coupons while doing their Christmas shopping this year, according to the source, and 45 percent of consumers indicated that discounts will be one of the most significant considerations in choosing where to buy.
People seek for bargains while they are out shopping because they want to get the most out of their hard-earned money and also because they want to have a wonderful Christmas season.
(Business Wire)
Final Words
The majority of Americans begin their winter holiday shopping in November, and they continue to shop until the last minutes of Thanksgiving, Christmas, Hanukkah, and New Year’s Eve and day. According to statistics, Americans have become more willing to spend more during the Christmas season in recent years. The Christmas season also brings in a significant amount of revenue for merchants, and in the aftermath of the epidemic, this season has proven to be the most lucrative period for internet companies. From greeting cards to decorations, food, presents, and clothes, the Christmas season boosts the sales of these sectors, as individuals spend more and more money to make the most of their vacations and special occasions.
To make this a memorable occasion, we decorate our homes, cook special meals, and spend a bit more money.
Additionally, deals on virtually every product become more attractive for consumers to spend their money on.
Men, women, and children all engage in the event in their own unique way and purchase products in their own unique way.
A large number of people apply for coupons and special offers. The number of businesses have announced reduced pricing for a variety of their goods.
It is important to recall that the Covid-19 epidemic has altered our way of life, including our employment and enjoyment of vacations and holidays. While internet shopping has risen in popularity, retail companies have suffered as a result.
Despite the global epidemic, Christmas spending has only decreased slightly as customers seek ways to reduce the virus’s stressful environment. Without a question, the holidays are the time of year that we all look forward to. Customers may also save money by taking advantage of sales promotions, discounts, and other special offers.
Faq
Q1: What is the average price for a christmas gift?
Ans: According to Statista, the average amount spent on Christmas is about $850 per person. During the period 2000 to 2020, there have been periods when this expenditure reached a low of $616, however since 2010, individuals have been spending more on Christmas presents with each passing year of the decade.
Q2: How to spend money wisely in the holiday season?
If you want to spend money sensibly on anything and save money at the same time, creating a budget is essential. Make a budget for your Christmas expenditures and make every effort to meet your expectations within that budget. Look for special offers and try your hand at making some homemade presents for friends and family.
