50+ Holiday Spending Statistics And Shopping Predictions (2020-2023)

Holiday spending is a significant component of annual retail sales, with expectations for the 2023 holiday season projecting a 4.5% increase in overall retail spending.

Additionally, online holiday sales are anticipated to see substantial growth, reaching a global total of $1.19 trillion by 2023.

To provide a snapshot of consumer behavior during this festive period, I’d like to share the most important holiday spending statistics that are crucial to note immediately. 🎁💳

To find specific year statistics and facts: 2023, 2022, 2021, 2020.

2023 Holiday Spending Predictions

For the 2023 holiday season, overall retail spending will rise 4.5%.
Global online holiday sales are expected to reach $1.19 trillion in 2023.
According to Numerator’s research, consumers plan to spend $100 or more during the holiday season.
This holiday season, 67% of retailers expect customers to look for deals.
17% of shoppers say they have already used generative AI to get ideas for purchases.
88% of retailers say they will tighten their return policies in preparation for the holidays, which poses a risk.
In 2023, global online holiday sales will be around $1.2 trillion.
US holiday sales will grow 1% YoY to $273 billion.
AI will drive $194 billion in online holiday sales.
Overall global retail spending will rise 4.5% to $1.3 trillion for the 2023 holiday season.
Holiday shopping can account for up to 30 percent of a retailer’s annual sales.

Source: (Martech, Salesforce, Salesforce, eMarketer)

2022 Holiday Spending Statistics

Holiday spending in 2022 went up quite a bit, showing people were definitely in the mood to splurge. Here’s a quick look at the highlights:

In 2022, holiday spending increased by nearly 7% annually.
In 2022, holiday retail sales in the United States were $936,3 billion, a 5.3% increase from 2021.
In 2022, the typical American holiday shopper spent $1,455 dollars.
During the 2022 holiday season, consumers spent $211.7 billion online.
63.1% of U.S. consumers have holiday spending budgets for 2022.
The majority of retailers provided double-digit discounts of up to 34%.
Consumers spent $211.7 billion online over the 2022 holiday season , an increase of 3.5% year over year.
According to a 2022 survey, 57% of U.S. consumers planned to shop online during the holiday season.
In the last decade, holiday retail sales have increased by 4.9% on average year over year.
In 2022, the average discount rate for holiday shopping in the U.S. was 23%, up 10% from the previous year.
Holiday shopping can account for up to 30 percent of a retailer’s annual sales.
The NRF says that holiday sales in 2022 went up by 5.3% to $936,3 billion.
49% of holiday shoppers will do more online shipping so they can ship directly to family and friends in 2021.
Shoppers spent 8.4% more on Thanksgiving, 6.9% more on Black Friday and Cyber Week, and 6.5% more on Christmas.
Overall, consumers plan to spend an average of $1,430 on gifts, travel and entertainment this year.
74% of consumers plan to spend the same or more on holiday gifts this year compared to last year.
47% of consumers cited free shipping as something that would influence where they shop for holiday gifts in 2021.

Sources: ( Statista, Retail Drive, NRF, The NPD Group / Annual Holiday Study 2021, NRF, MentalFloss, PWC, PWC, NPD 2021)

2021 Holiday Spending Statistics

Holiday spending hit new levels in 2021, with a major boost in spending all around. Here’s a quick rundown of the numbers:

In 2021, holiday spending grew by approximately 13.5% annually.
In 2021, holiday retail sales in the United States reached an all-time high of $889.30 billion.
The average holiday shopper in the United States spent $1,463 in 2021.
In 2021, the cost of Christmas shopping averaged $998 per person in the United States.
In 2021, consumers spent $33.9 billion from Thanksgiving to Cyber Monday.
Global Holiday sales reached $886.7 billion in 2021.
The 2021 holiday season saw a 16.1% increase in US retail sales.
Shoppers spent $579 on holiday-related items in 2021, up from $457 in 2020
U.S. consumers spent a record $204 billion online this holiday season.
In 2021, consumers spent $33.9 billion between Thanksgiving and Cyber Monday, a 1.4% decrease year on year.

Source: (NRF, eMarketer, Business Wire, Adobe, Deloitte)

2020 Holiday Spending Statistics

In 2020, November-December holiday season retail sales increased an unexpectedly high 8.3 percent over 2019.
40% of adults in the United States will spend less during the holiday season this year.
Americans spent $777.35 billion on holiday-related items in 2020.
In 2020, average holiday expenditures decreased to $1,387.
The total amount spent on holiday shopping online in the US in 2020 was $188.2 billion, up 32.2% from 2019.

Sources: (Insider Intelligence, Sales Force, Numerator, Retail Dive, NRF, Brand Innovators.)

Holiday Spending by Income Level

Holiday spending changes a lot depending on how much people make, with higher earners spending more on gifts, decorations, and total holiday costs. Check out the details below:

People with a household income of less than $50,000 spend $157 on holiday decorations, $339 on gifts, and $382 overall.
Individuals earning $50K–$100K spend $181 on decor, $618 on gifts, and $683 on holidays.
$100K-$200K earners spend $236 on decor, $823 on gifts, and $977 on holidays.
Over $200K earners spend $642 on decor, $967 on gifts, and $1,343 on holidays.
Higher-income groups spend more on gifts and holidays than lower-income groups.

Source: Rocket Money Research

Holiday Spending Differences: With vs. Without Family

How we spend during the holidays changes a lot depending on if we’re with family or not. Here’s a look at how spending on decorations, gifts, and overall expenses differs:

People who spend holidays with their families spend $344 on decor, a 43.8% increase over those who do not.
The gift budget with family is $787, up 29.5% from $555 without family.
Overall holiday spending with family is $999, up 34.8% from $652 without family.
Those without family spend $193 on decorations, $555 on gifts, and $652 overall.
Those with family spend $344 on decorations, $787 on gifts, and $999 overall.

Source: Rocket Money Research