Holiday Spending Trends Upwards

According to the National Retail Federation’s Holiday Consumer Spending Survey, conducted by Prosper Insights and Analytics, shoppers are likely to spend more this year than ever before on food, decorations, gifts and more.

April 6, 2018

The National Retail Federation predicts a positive holiday retail outlook.

According to the National Retail Federation’s Holiday Consumer Spending Survey, conducted by Prosper Insights and Analytics, shoppers are likely to spend more this year than ever before on food, decorations, gifts and more.

Consumers celebrating Christmas, Hanukkah and/or Kwanzaa will spend on average $805.65 across all categories, up from last year’s average of $802.45. Spending on gifts for family members is at its highest ever as well and is estimated to average $462.95, up from $458.75 in 2014.

“Despite the challenges that still exist in our economy, it looks as if consumers are eager to celebrate the holidays with friends and family this year,” says Matthew Shay, president and chief executive officer, NRF. “We expect consumers will tackle their holiday shopping lists with a healthy dose of optimism, tempered by a hint of caution as they look for ways to find the perfect, practical gift.”

Other average totals include

gifts for friends ($77.85), co-workers ($25.95) and others ($28.05); decorations will reach $53.02; and $28.67 on greeting cards and postage. Shoppers will also spend an average of $107.80 on food.

The survey also took a look at where shoppers will buy these purchase, with 55.9 percent shopping in discount stores, 55.6 percent in department stores and 52.9 percent shopping online. Two in five shoppers (44.1 percent) will take to grocery stores and one-third (33.4 percent) will shop at clothing or accessory stores.

Of those that shop online, 46.5 percent will take advantage of retailers buy online, pick up in-store options, and most expect shipping to home to be free-of-charge.

The survey also anticipates that mobile engagement will reach new highs, with 21.4 shoppers using their smartphone to make holiday purchases this year.

Other interesting facts from the survey include self-gifting is up (55.8 percent will spend an average of $131.59 on items for themselves); shopping is beginning earlier this year with 40 percent starting before Halloween; and gift cards still maintain the top spot for wish lists.

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