The Average American’s Holiday Spending will Drop. What About Yours?
What is the Average Holiday Spend?
According to the National Retail Federation, the average American was expected to spend an average of $682 this year on Holiday gifts versus $705 last year (a 3% decline year-over-year).
Interestingly enough, those surveyed in the 18-34 age group are going against the trend and said that they would spend an average of $657 this year vs. $552 last year (a 19% increase). Surprising, especially considering the incredibly tough job market for new grads.
You’re going to think we’re scrooges, but in-line with my declaration against Holiday consumerism, my wife and I are spending an average of about $100 this holiday, including $0 on each other. We’re providing experience related gifts to my parents, her parents, and traditional gifts to our grandparents. We have asked for nothing in return.
How much have you spent (or if you’re a latecomer, ‘will spend’) on gifts this Holiday season?