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Many people know that a lot of money is spent during the Christmas season on things like decorations, gifts, food, events, and travel. To put into perspective how many people spend money during the holiday season, 96% of Americans buy gifts for their families and spent nearly $1,000($997.73 to be exact) on Christmas in 2022. 64.9% of the $997 comes from gifts for family, friends, and coworkers; 23.1% on non-gift holiday items like food, and decorations; and 11.8% on other non-gift purchases for friends and family. Shoppers in 2020 spent an average of 150 dollars on seasonal candy alone and it’s probable that it will be even more this year.
In previous years, Christmas spending has been on the rise. In 2020, $777.3 billion was spent on Christmas, and in 2021 it rose to $889.3 billion. After the 13.5% sales increase in 2021, the National Retail Federation forecasts a growth of 6-8% for US holidays. This means Americans could spend between $942.6 billion and $960.4 billion total this year for the holiday season. Most of this shopping is done online, with 57% of sales coming from online retailers. Many people know that a lot of money is spent during the Christmas season on things like decorations, gifts, food, events, and travel. To put into perspective how many people spend money during the holiday season, 96% of Americans buy gifts for their families and spent nearly $1,000($997.73 to be exact) on Christmas in 2022. 64.9% of the $997 comes from gifts for family, friends, and coworkers; 23.1% on non-gift holiday items like food, and decorations; and 11.8% on other non-gift purchases for friends and family. Shoppers in 2020 spent an average of 150 dollars on seasonal candy alone and it’s probable that it will be even more this year.
In previous years, Christmas spending has been on the rise. In 2020, $777.3 billion was spent on Christmas, and in 2021 it rose to $889.3 billion. After the 13.5% sales increase in 2021, the National Retail Federation forecasts a growth of 6-8% for US holidays. This means Americans could spend between $942.6 billion and $960.4 billion total this year for the holiday season. Most of this shopping is done online, with 57% of sales coming from online retailers.
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