Making snide comments about how commercialized holidays have become is all well and good. But as a modern gentleman, you should still be prepared to spend some time (and money) on your loved ones when the season rolls around.
And spending has indeed become an integral part of holidays. The more we spend every year, the more we up the ante for the following years and so forth.
Hopefully, these holiday spending statistics will not only shock but inform you as well.
So forget the eggnog for now, because you’re about to have a nice, steaming cup of stats and facts.
10 Key Takeaways From the Holiday Statistics and Facts:
- The average shopper in the US will spend around $1,047 during the 2020 holiday season.
- 62% of shoppers say they will spend more or the same in 2020 as they did in 2019.
- 51% of holiday shoppers expressed concerns about shopping in stores in 2020.
- When selecting a retailer, 61% of consumers value good deals more than any other attribute.
- Holiday spending statistics show that 22% of shoppers expect to spend less than $100 this holiday season.
- So far, Americans have spent $1,059.20, on average, on back-to-college supplies in 2020.
- In 2020, 55% of people celebrated Valentine’s Day and expected to spend a whopping $27.4 billion.
- 189.6 million people took advantage of Black Friday shopping deals in 2019.
- Average spending per capita for Independence Day rose to $76.49 in 2020, even as total spending plummeted.
- Americans will spend over a billion dollars on turkeys for Thanksgiving 2020.
Consumer Holiday Spending Trends
Now that we’ve looked at the most important stats and facts let’s take a closer look at the spending trends behind them. We will discover how much money people exactly spend during the holiday season.
1. The average shopper in the US will spend around $1,047 during the 2020 holiday season.
(National Retail Federation)
The amount spent over the holidays has increased every year since 2008. This year, consumers report they expect to spend about 4% more than last year.
The highest spenders are shoppers in the 35–44 age group, who expect to spend around $1,158 over the holidays.
2. 62% of shoppers say they spent more money in 2020, just as they did in 2019.
(Statista)
2020 has been shaky in terms of economic security, to say the least. However, it seems holiday spending habits die hard since most people expect they’ll be spending more than last year.
To be fair, fewer people expect they’ll spend the same amount of money this year. Namely, 78% said they would spend the same or more in 2019, while this year, that number is only 62%.
3. Holiday spending statistics in 2019 showed almost $730 billion in retail sales.
(Statista)
Since 2000, holiday retail sales have increased by approximately $330 billion a year. However, this still represents only a small portion of total sales in the US.
Total retail sales in the US for 2019 amounted to an astounding $5.5 trillion.
4. Online spending trends reveal that Ecommerce accounted for about 20.9% of retail spending in 2019.
(National Retail Federation) (CBRE)
First, it was Esports that conquered the world by surprise. Online spending has increased in all sectors, but it still represents just a part of total shopping in the US.
However, most retailers increased online traffic in 2020 substantially as a response to the COVID-19 pandemic. Market researchers estimate a 32% leap in 2020.
5. People spend more on holiday gifts than any other single category, according to consumer spending statistics.
(National Retail Federation)
Here’s how spending during holidays breaks down for the average US consumer:
- Gifts for friends and family account for $658.55;
- food, decorations, flowers, greeting cards, etc. account for $227.26; and
- non-gift purchases to exploit seasonal deals account for $162.02
Researchers say younger shoppers are more likely to spend on their wider circle of friends, contributing to increased sales from last year.
6. 51% of holiday shoppers expressed concerns about shopping in stores in 2020.
(Deloitte)
There doesn’t seem to be any danger of the holidays being canceled in light of the COVID-19 pandemic. However, average holiday spending may take a hit, especially when it comes to brick-and-mortar shopping.
73% of consumers in a Deloitte survey said they plan to have their items delivered. Curbside pickup has doubled in 2020 compared to the previous year.
7. According to holiday spending statistics in 2020, 31% of spending will go towards non-gift items.
(Deloitte)
One of the most significant changes in the year’s spending habits will be how much money people allocate for gifts.
Non-gift spending is expected to rise to almost a third of tidal holiday spending.
And in a survey of which items people expect to purchase for themselves, most respondents indicated that alcoholic and nonalcoholic beverages were at the top of the list.
8. Consumer spending on video games is expected to reach $13.4 billion in the 2020 holiday season.
(NPD)
Year over year, spending on video games continues to grow. Video game spending in 2020 is expected to increase by 24% from 2019, mostly driven by console hardware.
9. When selecting a retailer, 61% of consumers value good deals more than any other attribute.
(Deloitte)
Retail seasonal trends don’t seem to change most people’s thirst for bargains. In a survey exploring what people want most from retailers, shoppers picked “a great deal” over quality, variety of styles, and easy checkout.
Moreover, 62% indicated that better prices would be the most likely reason for them to try a retailer they’ve never purchased from before.
10. Holiday spending statistics show that 22% of shoppers expect to spend less than $100 this holiday season.
(Tiniuti)
Spending trends will be markedly muted for the bottom spenders. More precisely, 8.9% more consumers report they’ll spend under $100 than in 2019.
However, the number of super spenders (those spending over $500) also rose by 15.3%, with most of them represented in the 40+ age group.
Holiday Season Store Statistics
Do you work in retail? If you do, you certainly don’t need us to explain what you go through every December. However, let’s analyze the numbers to see why people love shopping in stores, where they go, and who will buy their gifts online this year.
11. Mass merchants will account for 55.4% of holiday purchases.
(Tiniuti)
Of the mass retailers, Amazon stands head and shoulders above the rest. 78.1% of shoppers report they’ll be buying from Amazon this season.
However, shoppers aren’t abandoning smaller retailers. About a quarter of consumers plan to buy from small and local businesses.
12. Holiday shopping facts indicate that over 36% of Gen Z members still plan to shop in brick-and-mortar stores.
(Tiniuti)
Gen Z will be the most represented age group this season. 25% more than average expect to shop in stores than in previous years.
Millennials, on the other hand, remain web-bound. 53.8% of them expect to shop mostly or exclusively online.
13. 30% of seasonal holiday shoppers who buy in-store do so for the sensory experience of the products.
(Think With Google)
Seeing, touching, and feeling products is still driving people into stores. But a similar percentage (23%) prefer buying in-store because they just aren’t sure what they want to buy.
14. Retailers have made a concerted effort to drive online spending during the holiday season.
(CNBC)
Rather than rely on big in-store deals, mass retailers have been focusing on increasing holiday spending since the end of 2019.
Walmart, Target, Home Depot, and other big-box stores replaced their typical doorbusters with several days of online deals. That investment in Ecommerce is likely to pay off in the 2020 season when online sales are expected to dominate.
15. During this holiday season, store statistics show that only about 65% of retailers expect all their stores to be open.
(National Retail Federation)
One of the consequences of the COVID-19 pandemic is the widespread uncertainty about access to physical stores. A third of retailers expect at least some of their stores to be shut down at some point during October, November, and December.
Spending Statistics By Holiday
Not all holidays are the same. Sometimes you buy gifts, sometimes you turn into your favorite Marvel character. At times you also treat your inner nerd with pencils and sharpeners. From Christmas to St. Partick’s Day — we spend. Let’s see how much!
16. So far, Americans have spent $1,059.20, on average, on back-to-college supplies in 2020.
(National Retail Federation)
The biggest spending “holiday” in the US isn’t technically a holiday at all. Americans spend on college student needs more than on any other seasonal spending trend.
St. Patrick’s Day drives the least spending. In 2020, the average American only spent around $42 on this Irish holiday.
17. Christmas spending statistics indicate US shoppers expect to spend around $846 on Christmas gifts alone.
(Statista) (USA Today)
What would Christmas be without a gift?
At least a quarter of Americans agree it wouldn’t be much of a Christmas at all since more than 25% already finished their gift-shopping by the first week of October.
18. Americans spent over $8 billion on Halloween in 2020.
(National Retail Federation)
According to Halloween spending statistics, the holiday is still alive and well. On average, Americans planned to spend $92.12 on Halloween decorations, costumes, candy, and other holiday essentials this year.
Moreover, 58% of Americans reported they would celebrate Halloween this year, and 53% of Americans planned to decorate their homes with their children.
19. In 2020, 55% of people celebrated Valentine’s Day and expected to spend a whopping $27.4 billion.
(National Retail Federation)
Any holiday shopping statistics should include Valentine’s Day — one of the most commercialized holidays.
Love was definitely in the air this year since the expected spending rose by almost $7 billion compared to 2019. The biggest spenders were in the 35–44 age range, who expected to spend $358.78, on average.
20. Mother’s Day is second only to Christmas, with 86% of consumers saying they planned to celebrate it in 2020.
(National Retail Federation)
American spending statistics for Mother’s Day show it’s still one of the most celebrated holidays. In 2020, Americans planned to spend approximately $26.7 billion on Mother’s Day gifts.
The 2020 figure almost doubles the spending ten years ago, when it was estimated at $14.6 billion.
21. 189.6 million people took advantage of Black Friday shopping deals in 2019.
(National Retail Federation)
Despite the ever-earlier beginning of the holiday shopping season, Black Friday facts and statistics make it explicit that it’s the time most Americans start shopping in earnest.
2019’s number of shoppers was a year-over-year increase of 14% from 2018. Researchers predict even more consumers shopping on Thanksgiving weekend this year.
22. Average spending per capita for Independence Day rose to $76.49 in 2020, even as total spending plummeted.
(National Retail Federation)
Even though the 4th of July isn’t among the most prominent retail holidays, it still manages to drive good spending.
However, only 76% of people surveyed planned to celebrate the holiday in 2020. Additionally, the total spending fell in 2020 to $6.52 billion from $6.78 billion in 2019.
23. Americans will spend over a billion dollars on turkeys for Thanksgiving 2020.
(Finder) (MarketWatch)
It’s well-known that most turkeys are purchased and consumed for Thanksgiving in the US. But holiday shopping facts indicate Americans will be especially thriftless in 2020.
Total spending on turkeys will go up from $968 million in 2019 to $1.1 billion in 2020. This increase comes even though holiday spending statistics in 2020 indicate turkeys will be the cheapest they’ve been in a decade.
FAQ
What holiday has the most money spent?
Christmas is far and away the federal holiday when Americans spend the most money.
Christmas gifts are responsible for most of the spending over the holiday season. Research suggests consumers plan to spend just under $1,000 per person during the 2020 holiday season.
(National Retail Federation)
What percentage of holiday shopping is done online?
Most estimates predict that online shopping will account for about a third of total spending during the 2020 holiday season.
That represents a sharp increase over 2019 when statistics indicated that online shopping accounted for only 20% of total spending.
Pandemic conditions certainly set the stage for a dramatic increase in online shopping. However, retailers have been working for years to shift a growing portion of sales to online channels. And to spread the seasonal shopping period over a longer time.
(Digital Commerce 360)
What is the most commercialized holiday?
Although it’s debatable, many agree Christmas is the holiday whose original purpose has given way to the pursuit of financial gain.
Valentine’s Day is close to being the most commercialized holiday. Don’t get depressed if you’re alone on this day — it turns out that most of us feel lonely.
However it may be, Christmas generates much more spending activity; it’s hard to think of it as anything other than a Hallmark holiday.
(Business Pundit)
What is the most commercially successful holiday?
The Winter holidays, as a whole, are the most commercially active time of the year. That includes Christmas, Kwanzaa, Chanukah, and New Year’s.
The end-of-year celebrations account for anything between a quarter and a third of annual retail sales. They’re a cornerstone of economic activity in the United States.
As a rule, the most profitable holidays all happen at or around the end of the year in the US.
(PennLive)
Why do we buy gifts for Christmas?
While there are many trying to explain why people give gifts, the reason seems to be quite simple — appreciation. And we’re not talking about the traditional Secret Santa gift you may end up buying for a colleague you don’t like.
Gifts are a thing we get to make someone we love smile and be happy. We want them to feel appreciated and to know we think about them even when they are not around.
(HBR)
Conclusion
The holidays are all about giving. But also about receiving.
For better or for worse, the holidays are an experience that cannot go without spending money. However, if you play your cards right, you’ll spend it on the right people and in the right ways.
These holiday spending statistics shouldn’t discourage you. Instead, the best thing you can do is embrace the holiday spirit and make the best of it. We all love getting and giving the perfect gift anyway.
