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The prospect of a new stimulus payment increases the likelihood that Americans will spend as much as or more this holiday season than they did last year. This effect is greatest among those who believe COVID-19 is getting worse.
Americans expect to spend an average $805 on Christmas gifts this year, down sharply from $942 last year at this time and the lowest October spending estimate since 2016.
Americans' self-reported daily spending during Thanksgiving week is the highest in Gallup's 10-year trend, though similar to spending in 2016.
The trend toward online Christmas shopping continues to grow, while fewer U.S. adults plan to shop at discount stores than did so four years ago.
Gallup's November update of Americans' Christmas spending plans finds consumers still poised to splurge, just not quite to the extent seen in October.