How Much Will You Spend this Holiday Season? Check out Plans Here
Decking the halls and spreading holiday cheer can get pretty pricey and that can lead to added financial stress for shoppers. A new survey from the National Retail Federation reveals that 90% of U.S. adults plan to celebrate Christmas, Hanukkah and Kwanzaa, which is up from 87% last year. And Americans plan to spend an average of $998 on holiday gifts, food decor and other expenses this year.
The survey asked nearly 8-thousand adults about their winter holiday shopping plans and the results show:
- Nearly half (47%) of shoppers are worried about finding items this year because of supply chain challenges.
- The top items they’re concerned about finding are electronics (44%), clothes (40%) and toys (28%).
- Top holiday shopping destinations include department stores (47%), discount stores (44%), grocery stores (43%), and clothing/accessories stores (30%).
- A quarter of consumers plan to shop specifically at a local or small business.
- Overall, people plan to spend slightly less than the pre-pandemic high of $1047.83 in 2019.
Concerned about supply chain issues? National Retail Federation President and CEO Matthew Shay says major retailers are making an effort to avoid problems. “The retail industry is working diligently with ports, labor, shippers and transportation providers as well as government officials to overcome supply chain challenges,” he explains, “and make sure consumers have access to the gifts they want to give, and just as important, receive.”