By Emma Wu
How much do Americans spend on Christmas gifts? Better yet, how much do we spend simply during the holiday season? From garlands to Christmas lights to holiday drinks to gifts, there is such a wide range of items for holiday spending. After all, it’s the season of giving, so our budgets tend to go out the window.
According to 2022 statistics, Americans spend an average of $1,000 during Christmas every year. Here’s the breakdown: approximately 65% is spent on gifts, 23% on non-gift items (ex. food, decorations), and 12% on other non-gift purchases for friends and family. And so, nearly ⅔ of Christmas spending costs are spent on gifts for family or friends. This equates to nearly $650 on gifts, alone. Generally, most of these gifts go to family; nearly 96% of the population spends money on family gifts. The rest go to friends, coworkers, and others. The most popular gifts in order are the following: gift cards, clothing & accessories, books & other media, electronics, sporting goods, home decor & furnishing items, jewelry, personal care items, and others. An interesting trend across the years from 2000 to 2022 is that gift cards have been increasing consistently from year to year as a popular gift item to both buy and receive, hence leading to its #1 spot on the list of popular gifts.
Another aspect of holiday spending is the method in which one shops. Nearly half of the entire population starts holiday shopping at the end of October. Another 19% begin shopping at Thanksgiving and 25% start shopping in the time period in between. Only about 12% begin shopping when December hits, and a remaining 1% begin shopping after the holiday season. Of course, there are also a multitude of ways to browse for holiday shopping items. From online browsing to catalogs, there is a wide range of selection. In fact, online shopping is the most popular form of shopping for holiday gifts, conducted by 57% of the population. The department store, discount store, and grocery market closely follow as popular methods of browsing gifts. However, the most important aspect of holiday shopping to consider for many people is where the discounts are at. In a survey, researchers found that sales and price discount is an aspect considered more important than the quality of the item itself. However, regardless of the amounts spent, the savings found, or the number of gifts bought or received, this is still the season of giving.
