Loading...
27 October 2021 | Press Release
Email
Linkedin
Facebook
Twitter
Copy LinkSurvey: US Consumers Set to Spend an Average of $1,022 on Holiday Gifts and Related Items
After navigating a second year of pandemic uncertainty, Americans appear ready to celebrate—and open their wallets—this holiday season. Based on its annual Holiday Spending Survey, The Conference Board estimates consumers intend to spend an average of $648 on holiday gifts this year—plus an additional $374 on related non-gift items.
The $648 consumers planning to spend on gifts in 2021 is down slightly from the $673 they spent last year. Nevertheless, this year’s gift budgets remain historically high—and on par with pre-pandemic spending levels. Compared to last year:
These trends likely reflect the shift from last year’s pre-vaccine holidays, when surging infection rates and social distancing favored gifts enjoyed at home. By contrast, consumers this year are anticipating increased social activity that widens their gift-giving and entertaining circles. Meanwhile, about 6 in 10 expect to pay more for gifts and food. Thus:
The easing of pandemic restrictions is also set to alter where consumers spend their holidays—and make their purchases:
“Consumers are entering the holidays in a festive mood this year,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The Conference Board Consumer Confidence Index® increased in October, after three months of declines fueled by the summer Delta surge. With COVID-19 infections now easing—and vaccinations rates continuing to climb—consumers are more willing and able to return to shopping in person.
“However, these spending intentions may be thwarted by severe supply-chain challenges and transportation issues. If these problems persist, Americans may face bare shelves that send more shoppers back online, and could also mean delays in receiving products purchased in time for the holidays.”
Source: The Conference Board Consumer Confidence Survey®, October 2021
About The Conference Board
The Conference Board is the member-driven think tank that delivers Trusted Insights for What’s Ahead®. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org
