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:
The top gifts will include:
On the other side, people want such gifts as:
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.