Holiday Shoppers Are Budgeting $500 For Gifts, Study Finds

Consumers are planning higher holiday spending than some studies have indicated. 

According to Aki Technologies, the media division of Inmar Intelligence,"47% of consumers expect to shell out more than $500 on holiday gifts this year.  

At the same time, there has been a 41% hike YoY in the number of people who want to receive cash or gift cards has increased 41% since 2022. 

Shoppers are planning to buy gifts for:

  • My family -- 66.3% 
  • My partner/spouse -- 52.2%
  • Children -- 48.8%
  • Myself -- 45.2%
  • Friends --37.3% 
  • My partner's family -- 21.2.%

The top gifts will include:

  • Jewelry or apparel -- 72.7%
  • Cash or gift cards -- 66.7%
  • Beauty --45.5%
  • Personalized products -- 45.5% 

On the other side, people want such gifts as: 

  • Cash or Gift Cards -- 66.06%
  • Apparel or Jewelry -- 28.91%
  • Tickets or Experiences -- 23.66%
  • Gaming/Entertainment/Tech -- 22.16%
  • Personalized products -- 19.6%

In a separate study issued this week, Salesforce projected a 1% increase in total holiday spend in the U.S., versus 4% globally. The global total should hit $1.19 trillion. 

 

 

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