Consumers are prepared for a holly, jolly holiday season, though it’s evident most will take a conservative approach with their gift-giving budgets. According to NRF’s holiday consumer spending survey conducted by BIGinsight, the average holiday shopper will spend $749.51 on gifts, décor, greeting cards, and more, up slightly from the $740.57 they actually spent last year. NRF is forecasting holiday sales will increase 4.1 percent to $586.1 billion.
According to the survey, the biggest portion of shoppers’ budget this year will go towards gifts for family members with the average person planning to spend $421.82 on children, parents, aunt, uncles, and others. Additionally, people will spend $75.13 on friends, $23.48 on co-workers, and $28.13 on others, such as pets and community members. Consumers will also spend on food and candy ($100.76), greeting cards ($28.66), and flowers ($19.55.) When it comes to decorations, the average person will spend $51.99, up from $49.15 last year and the most in the survey’s history. Total spending on holiday décor will reach $6.9 billion.