Holiday season consumer spending is expected to be slightly higher this year compared with last, reaching $805.65, up from $802.45 last year, according to data from the National Retail Federation. Consumer spending on gifts for family members specifically is estimated to reach $462.95, which is also an increase from last year’s $458.75. Holiday consumer spending in November and December is expected to reach $630 billion, according to the NRF.
Gallup’s research also points to higher spending on holiday gifts this year. Gallup said consumers will spend $830 on gifts this year, up from $720 last year. About 30% of consumers said they would spend more than $1,000 on gifts this year, also up from the 25% of consumers who said they would spend that much last year.
However, consumers are also looking for gifts that cost less this year. Data from America’s Research Group also show 4% of consumers are looking for gifts under $10 this holiday season, up from the 1% last year. Fewer consumers are looking to spend between $26 and $35 on a gift this year as well, with 18% this year compared with 22% last year.
Here are some additional spending stats on what consumers and companies dish out during the holidays:
- $1.2 billion: the value of U.S. imports of Christmas tree ornaments from China from January to September 2015
- $127 billion: the amount spent on gift cards annually. About 40% of children and 45% of adults prefer to receive a gift card for the holidays.
- $131.59: the amount consumers will spend on themselves this holiday season while out shopping.
- $2 billion: the amount spent on holiday cards this year
- $57 million: the amount Wal-mart spent on Black Friday television advertising this year, the most out of any retailer