A new holiday shopping survey from the National Retail Federation is calling for record per-person spending of $902, on average — about $25 per person more than in 2023.
That total includes gifts, food, decorations and other seasonal items, according to NRF, whose survey was conducted by Prosper Insights & Analytics.
“The winter holidays are a treasured time for Americans, and they are prioritizing spending on family this holiday season,” NRF Vice President of Industry and Consumer Insights Katherine Cullen says in a news release. “Despite the shorter window of time between Thanksgiving and Christmas, retailers are prepared to meet the needs of consumers by providing holiday shoppers with earlier deals and sales and by ensuring inventory is available for the most in-demand items this year.”
Behind the increase in spending: gifts for family members. Of the $902 average that shoppers are expected to spend, about $641 (71%) is earmarked for gifts for family, friends, co-workers, and more, according to the survey. The $641 total is up from $620 last year. The balance of the money will be for seasonal items like food or candy, decorations, and greeting cards.
Among other findings:
Forty-five percent of holiday shoppers will be browsing and buying before November. Top reasons include stretching their budget (59%), avoiding last-minute shopping (45%), avoiding crowds (42%), and pursuing prices or promotions that cannot be missed (42%).
Shopping destinations will vary. Online (57%) remains the top destination, followed by department stores (46%), grocery stores and supermarkets (46%) and discount stores (45%).
Gift cards are still No. 1. Gift cards (53%) remain the most popular item on consumers’ wish lists, followed by clothing and accessories (49%), books and other media (28%), and personal care or beauty items (25%).
“While most consumers will opt to shop at traditional retailers this holiday season, many younger consumers between the ages of 18 to 24 will also head to thrift stores and resale shops,” Prosper Executive Vice President of Strategy Phil Rist says. “Secondhand and refurbished gifts appeal to this age group’s desire to save money and be more sustainable.”