Spending
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Gallup's final 2024 measure of Americans' holiday gift outlays finds consumers' spending estimate up slightly from a year ago.
Americans predict they will spend an average of $1,014 on holiday gifts this year, well above the $923 they estimated at this time last year.
About half of U.S. holiday shoppers say they will buy most or all of their gifts in December, with 16% buying all of them this month.
The amount Americans plan to spend on holiday gifts this year has increased as the season has progressed, from $923 in October to $975 in November.
Close to two-thirds of likely Black Friday/Cyber Monday shoppers will buy something for themselves this year.
Americans predict they will spend an average $923 on Christmas or other holiday gifts this year, just shy of the $932 they estimated at the same time a year ago.
About one in four U.S. holiday shoppers would definitely or probably start their holiday shopping earlier if retailers started their holiday sales earlier.
Fewer Americans say they use cash for all or most purchases than say they did so five years ago. Close to two-thirds believe the U.S. will be a cashless society in their lifetime.
Portending solid holiday retail sales, Americans expect to spend an average $886 on gifts this season, slightly more than a year ago. Most people didn't start shopping early, but when they do shop, it's likely to be online.
The amount Americans estimate they will spend on Christmas gifts this year roughly matches what they estimated last year around the same time, but it is still lower than before the pandemic.
Americans' estimate of the amount they will spend on gifts this holiday season is up slightly from October, portending an average year for holiday sales.
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.
