Holidays are a time for celebration, but they can also be a source of financial strain.
We’ve rounded up some interesting statistics on spending during the holidays (and not just Christmas, but also those like Easter and Mother’s Day!) to give you a better sense of the financial impact of these special occasions.
Let’s dive in!
What Holiday Has the Most Consumer Spending?
It’s no surprise that the winter holidays are number one when it comes to consumer spending. After all, who wouldn’t want to buy gifts for their family and friends during the most magical time of year?
Christmas usually takes the top spot for holiday-related spending, with an average of $997.73 spent annually.
It was then followed by Mother’s Day, Easter, Father’s Day, Valentine’s Day, and finally, Halloween rounding out the top six with spending estimated at $102.74.
Holiday Spending Statistics – Highlights
- 55% of consumers expect to receive clothing or accessories during the holidays.
- The average Thanksgiving weekend spending on holiday-related purchases is $229.21 per consumer.
- In 2015, cash was the preferred payment method for holiday shopping, but now, 60% of consumers prefer debit cards.
- Consumers with an average annual income higher than $100,000 will spend around $2,600 on average.
- In 2021, 11.5% of Americans planned on not spending anything during the holiday season.
Consumers with an average annual income higher than $100,000 will spend around $2,600 on average.
(Source: Deloitte)
This statistic is important for businesses because it gives them a better understanding of their target market and who is likely to be their biggest spenders.
For example, high-end brands can use this information to determine which demographics are more likely to purchase their products or services during the holiday season.
In 2021, 11.5% of Americans planned on not spending anything during the holiday season.
(Source: Deloitte)
This information provides insight into consumer behavior during difficult economic times. While some people may not have been able to afford gifts during the 2020 pandemic, others may have chosen not to spend money out of caution or necessity—or both!
Knowing this information helps businesses prepare for possible dips in sales during recessions or economic downturns and adjust their marketing strategies accordingly.
In 2022, 196.7 million Americans shopped in stores and online over the Thanksgiving holiday weekend.
(Source: National Retail Federation)
Despite the pandemic-induced recession, consumers remain optimistic about shopping during the holiday season—especially when it comes to online shopping! This is great news for businesses as it indicates a healthy appetite for spending even when times are tough.
About 27% of Americans say the holidays put a strain on their budgets.
(Source: Bankrate)
It’s no secret that holidays can be expensive. Between gifts, decorations, travel expenses, and festive dinners, the costs add up fast. According to Bankrate’s survey results, nearly a third of Americans report feeling financial pressure during the holiday season due to these expenses.
The best way to prevent this kind of stress is by budgeting and planning ahead so you know exactly what your holiday spending limits are and how you can stick to them.
The average person will spend $168 on Easter celebrations.
(Source: National Retail Federation)
Easter is one of the biggest holidays for retailers after Christmas—but did you know that people are still spending big during this springtime celebration? In fact, according to the National Retail Federation’s survey results, people reported spending an average of $168 on Easter-related items such as candy, decorations, clothing, and more in 2021 alone!
Even if your budget doesn’t allow for extravagant purchases during Easter, there are still plenty of creative ways to celebrate without breaking the bank.
Mother’s Day is another major spending holiday, with the average consumer spending around $245.76.
(Source: National Retail Federation)
Mother’s Day is another major spending holiday, with the average consumer spending around $245.76, according to the National Retail Federation. This includes flowers, cards, jewelry, and experiences such as spa days or trips out for dinner.
While this is certainly less than what people tend to spend at Christmas or Thanksgiving, it is still an amount that needs careful consideration if you’re trying not to overspend your budget.
65% of holiday shoppers don’t have money set aside or budgeted for their holiday shopping.
(Source: Bankrate)
This information may come as a surprise, but it brings up an important point about holiday shopping—it pays off in more ways than one when you plan ahead!
Not only can setting aside money beforehand help you avoid debt traps associated with overspending during the holidays, but it also reduces your stress levels by helping you stay within your budget from start to finish.
Retail sales for November and December increased in 2022 by 8%.
(Source: National Retail Federation)
Retail sales increased by 8% in November and December 2022 compared to 2021 figures—showing that despite pandemic-related challenges, people are continuing to shop during this important time of year! With even more stores offering online options now than ever before—it looks like there will be no shortage of opportunities for shoppers looking to get great deals this upcoming holiday season!
62% of holiday shoppers agree that it’s important to spend money on holiday celebrations and gifts.
(Source: National Retail Federation)
This statistic shows that a majority of people understand how important it is to invest in making sure their holidays are special. Whether you’re shopping for gifts or decorations, investing your money into making memories with family and friends is key during this festive season.
56% of consumers enjoy receiving gift cards for the holidays.
(Source: National Retail Federation)
Gift cards are a popular choice when it comes to gifting for the holidays. Gift cards can be tailored to individual tastes and interests, so they’re a great way to show someone you care without having to guess what they may like best!
44% of consumers who make under $40,000 say inflation will impact how they shop for holiday gifts.
(Source: Bankrate)
There’s no doubt that inflation can have an effect on our spending habits. This statistic shows that those with lower incomes are particularly aware of this fact when looking for ways to save during the holidays. Shopping around for deals and taking advantage of discounts can help keep costs down while still getting something special for everyone on your list!
56% of consumers plan to make most of their holiday purchases online.
(Source: National Retail Federation)
It’s no surprise that more and more people are opting to shop online due to the convenience and ease of access it offers. In addition, with so many stores offering free shipping or discounts on orders over a certain dollar amount, it can be a great way to save money while avoiding long lines and crowded stores.
Americans will spend an average of $252 on gift cards for the holiday season.
(Source: Bankrate)
Gift cards have become increasingly popular gifts because they offer the recipient ultimate freedom in choosing their own gift. And unlike cash, which can easily be forgotten about or misplaced, gift cards are tangible objects that recipients can keep for years as reminders of your thoughtfulness.
The most popular types of gift cards to give and receive during the holidays are for restaurants, followed closely by those for department stores, bank-issued cards, and coffee shops.
(Source: National Retail Federation)
These types of gift cards provide plenty of options for everyone—from foodies who enjoy trying out new restaurants, to fashionistas who love keeping up with trends from department stores!
Out of all age groups, Baby Boomers have the lowest holiday budgets spending an average of $1,199. Millennials spend the most, at around $1,823.
(Source: PWC)
It is likely that millennials are spending more during the holidays because they tend to be more open to splurging on experiences rather than material items. Studies show that millennials prioritize experiences such as travel and dining out over buying consumer products like cars or clothing.
Therefore it makes sense that they would be willing to splurge on trips or dinners with family during the holiday season instead of just buying gifts for others.
The opposite is true when it comes to Baby Boomers; studies show that they tend to prioritize purchasing material goods over experiences. As a result, they may be less likely to blow their budget on lavish vacations or expensive dinners when it comes to holiday spending.
They may prefer sticking within their budget and purchasing smaller items, such as books or clothing for friends and family, instead of going all out with large purchases or vacations.
The top holiday toys for kids are Legos, Barbies, Hot Wheels, and cars and trucks.
(Source: National Retail Federation)
Legos, Barbies, Hot Wheels, and cars and trucks are some of the most popular toys for kids this holiday season, according to the National Retail Federation. It makes sense—these items are classic favorites among children of all ages and come in a wide variety of styles and price ranges.
For Easter, most families spend around $46 on gifts (for those with kids) and $20 (for those without).
(Source: National Retail Federation)
This makes sense because certain Easter traditions only apply if you have kids—like dyeing eggs or filling baskets with candy and trinkets—so parents tend to spend more than those who don’t have children or have adult children who no longer celebrate Easter in the same way they did as youngsters.
55% of consumers expect to receive clothing or accessories during the holidays.
(Source: National Retail Federation)
This is likely due to two factors: 1) clothing is always a popular gift item because it’s relatively inexpensive and easy to find, and 2) fashion trends change quickly, so there’s always something new coming out that people want. Whether it’s statement pieces like jewelry or basics like socks and sweaters, clothing items make great gifts regardless of age or gender.
The average Thanksgiving weekend spending on holiday-related purchases is $229.21 per consumer.
(Source: National Retail Federation)
This statistic is significant because it shows how much people are willing to spend during the start of the holiday season. It’s important for businesses to be aware of this number so that they can prepare for higher demand and make sure they have enough inventory available to meet customer needs.
53% of millennials plan to include upcycled or resale items on their holiday shopping lists
(Source: PWC)
This is important because it illustrates how younger generations are increasingly prioritizing sustainability when making purchase decisions. Businesses should pay attention to this trend and consider offering more eco-friendly options as well as promoting them through various channels in order to reach this demographic.
Having upcycled or resale items available could be a great way for companies to differentiate themselves from their competitors while also appealing to customers’ growing interest in sustainability initiatives.
32% of consumers will buy their last holiday gifts before Saturday, December 17, while 5% wait until after December 25.
(Source: National Retail Federation)
This data highlights shoppers’ habits when it comes to purchasing gifts for the holidays and is useful for businesses looking at planning inventory levels or running promotions at certain times throughout the season.
In 2015, cash was the preferred payment method for holiday shopping, but now, 60% of consumers prefer debit cards.
(Source: PWC)
Cash or credit? In 2015, cash was the preferred payment method for holiday shopping. That may seem surprising, considering how digital payments have become increasingly popular in recent years.
However, according to PWC’s survey of US consumers from 2018, 60% now prefer debit cards when making purchases during the holiday season. This trend speaks to the convenience of using a debit card rather than carrying around cash. And with more businesses accepting digital payments, customers are more comfortable using their debit cards for holiday shopping than ever before.
Consumers spend more than $20 billion on Father’s Day spending each year.
(Source: National Retail Federation)
The most popular gift categories for Father’s Day include apparel, gift cards, electronics, home improvement items, and sporting goods. It appears that people are focusing on practical gifts that can be enjoyed by dad long after his special day passes.
Final Thoughts: Holiday Spending Statistics
Every year, the holidays bring an influx of spending. This is due to the fact that people are looking for gifts, decorations, and special deals. Now that you know what this spending actually looks like – and how it’s distributed throughout the year’s various holidays – you have the information you need to make more informed purchasing decisions.
Whatever your preference might be when it comes to shopping during the holidays, one thing is clear—people love getting great deals and spending money.
