How Much Money Does The Average American Family Spend On Christmas 2018
Story Highlights
- Americans predict spending $852 on gifts, similar to estimate in 2019
- Shoppers not especially likely to be tightening their holiday budget
WASHINGTON, D.C. -- Gallup's latest update of Americans' 2020 vacation spending plans finds consumers estimating they will spend an boilerplate $852 on Christmas gifts, nigh identical to the $846 they projected at the aforementioned fourth dimension terminal year.
Line graph. Annual trend since 1999 in which Americans approximate each November of the amount they will spend on Christmas gifts, ranging from a high of $866 in 2007 to a low of $616 in 2008. The November 2020 figure is $852.
The latest souvenir-buying estimate, based on a Gallup telephone poll of U.South. adults conducted Nov. 5-19, is college than the $805 Americans' expected to spend in October and points to stronger vacation sales than were implied by that preliminary effigy.
Holiday sales typically increase year-over-twelvemonth, with an boilerplate three.3% annual increase since 2000, according to figures from the National Retail Federation. Sales increased by more than than 5% in strong years (such as in 2004 and 2005) and by 2% or less in weak years, including negative sales growth in 2008 and 2009.
Gallup analysis of the historical relationship between Americans' Christmas spending intentions each November and actual holiday retail sales suggests that this year's holiday retail sales are likely to rise by an amount similar to the historical boilerplate (in the three.iii% range). By contrast, the October guess of $805 in spending on gifts was indicative of below-average sales (ascent by closer to two%). Gallup has historically institute a stronger correlation between Nov spending estimates and bodily retail sales, in role due to changes in the economical or political climate that have occurred between those months in some years.
Range of Spending Is Also Like to 2019
The latest spending judge reflects 32% of Americans planning to spend $ane,000 or more on Christmas gifts, 21% spending betwixt $500 and $999, 29% spending betwixt $100 and $499, and two% spending less than $100.
These percentages are nearly identical to what Gallup plant in November 2019, farther indicating that the economic disruption caused past the COVID-19 pandemic has non altered Americans' normal vacation spending patterns.
Americans' Christmas Spending Gauge
Roughly how much money do you think you personally will spend on Christmas gifts this twelvemonth?
| Nov 1-xiv, 2019 | November 5-19, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| % | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| $1,000 or more | 34 | 35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| $500-999 | 21 | 19 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| $250-499 | 16 | xiii | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| $100-249 | 14 | 18 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Nether $100 | 2 | three | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| None/Don't gloat | eight | nine | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non certain | 4 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average, including cypher | $846 | $852 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average, excluding zip | $927 | $940 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gallup | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Although spending intentions vary past household income, the figures at each income level are also essentially unchanged from 2019. Currently, those living in households earning $100,000 or more than per year plan to spend an average of $one,291 on Christmas gifts. This drops to $888 amid those earning betwixt $forty,000 and $99,999, and to $516 among those earning less than $forty,000.
Estimated Christmas spending is also higher among households with children younger than eighteen living at home ($1,103) than in households without children ($749).
Americans Are Modestly Cautious in Describing Their Spending Plans
Separately, the poll asks Americans to say whether the amount they program to spend on Christmas gifts is more, the same as, or less than what they spent the year prior.
Equally is virtually always the instance, the largest segment of Americans, 57%, say they will spend about the aforementioned on gifts while a larger proportion say they will spend less (28%) rather than more (15%).
Line graph. Annual trend since 1999 in Americans' report each November of whether the amount they plan to spend on Christmas gifts is more, nigh the same, or less than what they spent the year prior. In all years except 2008, the majority have said they will spend the aforementioned amount. The percent saying they will spend less has varied from a high of 46% in 2008 to a low of 18% in 2000. The November 2020 effigy is 28%.
Each November since 2002, the public has tilted toward maxim they will spend less coin rather than more, with the gap between those figures ranging from half dozen points in 2016, 2017 and 2018 to 39 points in 2008. Holiday sales tended to be below average in years when the advantage for less spending was high, while spending was relatively strong in depression-gap years.
This twelvemonth's 13-point difference matches the hateful historical gap in spending expectations, providing further evidence that holiday retail sales will exist most average in 2020.
Bottom Line
Americans' latest estimate of their spending on gifts this vacation flavor offers retailers some hope of normalcy at the end of a year that has been annihilation simply normal. Of course, how and where Americans spend may differ from prior years amidst an accelerating surge in COVID-19 cases nationwide, with some types of retailers benefiting more others.
There is also no guarantee that consumers' spending intentions will be sustained over the next month when holiday shopping typically kicks into high gear. How much Christmas shoppers follow through on their November spending mood could depend on the extent to which the present surge in COVID-19 cases compels renewed lockdowns that crimp household income and in-person retail shopping. Smaller family gatherings and fewer holiday parties could also hateful less impetus to expand gift-giving beyond i's immediate household.
On the other manus, recent inquiry past Franklin Templeton and Gallup suggests that should Congress pass a second stimulus bill before Christmas that includes direct checks to families -- a long-shot at this late appointment -- retailers could potentially come across a slight heave in spending beyond what is predicted today.
View complete question responses and trends (PDF download).
Learn more than most how the Gallup Poll Social Series works.
Source: https://news.gallup.com/poll/326654/americans-holiday-spending-intentions-strengthen-november.aspx
Posted by: villanuevalibler.blogspot.com
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