Christmas Spending Will Match Last Year's Levels
"Holiday spending is in line with current economic trends," notes Lynn Franco, Director of The Conference Board's Consumer Research Center. "Strong consumer confidence levels, modest inflation and recent wage gains will generate a strong Christmas spending season, marked by rising spending on the Internet."
Approximately 16% of respondents said they had purchased gifts over the Internet last year, and 90% were satisfied with their online experience. This year, 19% intend to purchase gifts online, with books, toys and games at the top of family Christmas lists.
BIGGEST SPENDERS IN THE EAST
Leading all Christmas spenders are families living in New England ($607). Households in the South Atlantic ($578), Middle Atlantic ($524), East North Central ($510) and Mountain ($497) regions are expected to exceed the U.S. average. Household spending plans are lowest in the West South Central states ($409).
Households headed by individuals aged 45-54 represent the biggest spenders. The average expenditure among these households is approximately $545. Households with incomes in excess of $50,000 intend to spend more than $730 for Christmas gifts. Young households (those headed by persons under age 25) and older households (those headed by persons over age 65) plan to spend less than the national average.
This survey of Christmas spending intentions covers a nationally representative sample of 5,000 U.S. households. It was conducted for The Conference Board in November by NFO Research, Inc., an NFO Worldwide Company and member of The Interpublic Group of Companies.