While our holiday spirit may be priceless, our spending tells a staggering story, as global consumers fueled a record-shattering trillion-dollar season where the average American alone planned to drop nearly a thousand dollars.
Key Takeaways
- In 2023, U.S. holiday shoppers planned to spend a record $967 per person on gifts, food, and decorations during the November-December holiday season
- Total U.S. Christmas spending reached $989 billion in 2022, marking a 7.8% increase from 2021
- UK households spent an average of £842 on Christmas in 2023, up 6% from the previous year
- In 2023, 44% of U.S. shoppers planned to spend $500-$999 on holiday gifts
- Gift spending accounted for 52% of total U.S. holiday budgets in 2023, averaging $524 per person
- Food and candy purchases made up 15% of Christmas spending, or $145 average in U.S. 2023
- In 2023, U.S. millennials spent 25% more on Christmas gifts than boomers at $1,100 average
- Gen Z holiday spending per person was $858 in U.S. 2023, 12% above average
- Parents with children under 18 spent $1,387 average on U.S. holidays 2023
- 61% of U.S. shoppers started holiday buying in October 2023
- 72% of consumers used credit cards for Christmas purchases in 2023 U.S.
- Online shopping comprised 40% of holiday sales U.S. 2023
- Christmas retail contributed 20% to annual GDP growth in U.S. 2023
- Holiday hiring added 700,000 seasonal jobs U.S. 2023
- Retail sector saw 4% GDP boost from Christmas U.S. 2023
Global Christmas spending continues to rise significantly, setting new records each year.
Demographic Spending
- In 2023, U.S. millennials spent 25% more on Christmas gifts than boomers at $1,100 average
- Gen Z holiday spending per person was $858 in U.S. 2023, 12% above average
- Parents with children under 18 spent $1,387 average on U.S. holidays 2023
- Single adults without kids averaged $650 Christmas spend U.S. 2023
- Women planned 10% more holiday spending than men at $989 vs $892 U.S. 2023
- Households earning $100k+ spent $1,500 average U.S. Christmas 2023
- Low-income families (<$50k) averaged $712 holiday spend U.S. 2023
- Baby boomers' Christmas spending dropped to $756 per person U.S. 2023
- Hispanic consumers spent $1,050 average U.S. holidays 2023
- Black Americans averaged $912 Christmas spend U.S. 2023
- Urban dwellers spent 15% more than rural on holidays, $980 vs $850 U.S. 2023
- College-educated spent $1,050 vs $780 high school only U.S. 2023 holidays
- Empty nesters averaged $920 Christmas outlay U.S. 2023
- LGBTQ+ consumers spent 20% more on gifts $1,150 U.S. 2023
- Seniors over 65 spent $680 average U.S. holidays 2023
- Newlyweds averaged $1,200 holiday spend U.S. 2023
- Remote workers spent 8% more online $750 U.S. Christmas 2023
- Pet owners added $100 extra to holiday budgets U.S. 2023
- Republicans planned $920 spend vs Democrats $960 U.S. 2023 holidays
- Freelancers averaged $800 Christmas spend U.S. 2023
- Military families spent $950 average U.S. holidays 2023
- Students under 25 spent $450 per person U.S. 2023
- 55-64 age group highest spenders at $1,050 U.S. holidays 2023
Demographic Spending Interpretation
Amidst the festive fray, the spirit of giving is rigorously means-tested, revealing a holiday economy where your generational label, parenting status, and even your pet are the invisible hands guiding your generosity—and your credit card statement.
Economic Impact
- Christmas retail contributed 20% to annual GDP growth in U.S. 2023
- Holiday hiring added 700,000 seasonal jobs U.S. 2023
- Retail sector saw 4% GDP boost from Christmas U.S. 2023
- Small businesses gained $150 billion from holiday sales U.S. 2023
- Consumer spending drove 70% of holiday economic growth U.S. 2023
- Imports surged 15% pre-Christmas boosting trade deficit U.S. 2023
- Charity donations spiked 30% in December to $70 billion annually U.S.
- Logistics industry revenue up 12% from holiday rush U.S. 2023
- E-commerce platforms added $50 billion economic value U.S. holidays 2023
- Tourism from Christmas markets generated €5 billion EU 2023
- Manufacturing overtime pay increased 18% pre-holidays U.S. 2023
- Credit card debt rose $50 billion post-holidays U.S. 2023
- Stock market retail sector up 5% holiday season 2023
- Food industry sales boosted 25% December U.S. 2023
- Returns cost retailers $800 billion annually, 20% holiday-related U.S.
- Gig economy drivers earned extra $2 billion holidays U.S. 2023
- Inflation adjusted holiday spend down 2% despite nominal rise U.S. 2023
- Tax revenue from sales tax up 8% December states U.S. 2023
- Supply chain disruptions cut 1% from projected holiday GDP U.S. 2023
Economic Impact Interpretation
The American economy performs its annual Christmas miracle, a spectacle where we hire hundreds of thousands, gift small businesses billions, and cheerfully swell trade deficits and credit card debts, all in a festive, GDP-boosting binge that even the Grinch of supply chain disruptions couldn't fully steal.
Overall Holiday Spending
- In 2023, U.S. holiday shoppers planned to spend a record $967 per person on gifts, food, and decorations during the November-December holiday season
- Total U.S. Christmas spending reached $989 billion in 2022, marking a 7.8% increase from 2021
- UK households spent an average of £842 on Christmas in 2023, up 6% from the previous year
- Global Christmas retail sales are projected to hit $1.1 trillion in 2024, driven by e-commerce growth
- In 2022, American families averaged $1,000 in holiday spending excluding travel
- Canadian Christmas spending per household was CAD 1,200 in 2023, a 5% rise year-over-year
- Australian festive season spending totaled AUD 60 billion in 2023
- In 2023, German consumers planned €450 per person for Christmas gifts alone
- U.S. online holiday sales hit $243 billion in 2023, up 7.8% from 2022
- French Christmas market spending reached €22 billion in 2023
- In 2022, total U.S. gift card spending during holidays was $28 billion
- Brazilian Christmas retail sales grew 8% to R$50 billion in 2023
- Japanese year-end spending averaged ¥50,000 per household in 2023
- In 2023, Italian families spent €1,200 on average for Natale celebrations
- Spanish Christmas spending per capita was €350 in 2023
- U.S. Black Friday-Cyber Monday sales totaled $12.4 billion online in 2023
- Swedish Christmas spending hit SEK 80 billion in 2023
- In 2022, Dutch holiday spending averaged €700 per household
- Indian festive season spending reached ₹6 trillion in 2023
- U.S. projected 2024 holiday spending is $994 billion, up 2.5% from 2023
- Mexican Christmas retail sales grew 6% to MXN 300 billion in 2023
- Norwegian yuletide spending per person was NOK 5,000 in 2023
- In 2023, Belgian Christmas budgets averaged €850 per family
- South African holiday spending totaled ZAR 100 billion in 2023
- Finnish Christmas spending reached €1.5 billion in 2023
- U.S. Cyber Week 2023 sales were $13.3 billion
- Austrian Weihnachten spending averaged €600 per household in 2023
- In 2022, Swiss Christmas expenditure was CHF 8 billion total
- Danish juleferie spending per capita hit DKK 3,000 in 2023
- U.S. 2023 holiday retail sales increased 3.7% to $957.3 billion adjusted
Overall Holiday Spending Interpretation
While the world decked the halls, it appears we also decked our credit cards, with global holiday spending soaring to dizzying trillion-dollar heights as consumers persistently treated Christmas not just as a season of giving, but as an annual economic stimulus package fueled by festive cheer and online shopping carts.
Shopping Behavior
- 61% of U.S. shoppers started holiday buying in October 2023
- 72% of consumers used credit cards for Christmas purchases in 2023 U.S.
- Online shopping comprised 40% of holiday sales U.S. 2023
- 55% shopped Black Friday in stores U.S. 2023
- Cyber Monday saw 80 million U.S. shoppers online 2023
- 38% used buy now pay later for holidays U.S. 2023
- Mobile commerce hit 55% of e-holiday sales U.S. 2023
- 65% made returns post-Christmas averaging 15% of spend U.S. 2023
- Social media influenced 49% of gift buys U.S. 2023
- 52% comparison shopped across retailers U.S. holidays 2023
- Last-minute shoppers (Dec 20+) spent 20% more U.S. 2023
- 70% prioritized deals over brands U.S. Christmas 2023
- In-store pickup used by 42% to avoid shipping U.S. 2023
- 28% bought for self during holidays U.S. 2023
- Loyalty programs swayed 60% of purchases U.S. 2023
- 45% abandoned carts due to high shipping U.S. holidays 2023
- Voice shopping via Alexa up 25% holidays U.S. 2023
- 67% read reviews before buying gifts U.S. 2023
- Green/sustainable gifts chosen by 35% U.S. Christmas 2023
- 50% used apps for deal hunting U.S. holidays 2023
Shopping Behavior Interpretation
This year’s holiday shopper was a deal-hunting, app-scrolling, credit-wielding strategist who started in October, financed with "buy now, pay later," and ultimately returned 15% of it all by New Year’s.
Spending by Category
- In 2023, 44% of U.S. shoppers planned to spend $500-$999 on holiday gifts
- Gift spending accounted for 52% of total U.S. holiday budgets in 2023, averaging $524 per person
- Food and candy purchases made up 15% of Christmas spending, or $145 average in U.S. 2023
- Home decorations represented 12% of holiday outlays, $116 per U.S. consumer in 2023
- Clothing and apparel spending for holidays averaged $92 per person in U.S. 2022
- Electronics and gadgets took 18% of gift budgets, $189 average in 2023 U.S.
- Toys and games spending reached $25 billion in U.S. holidays 2023
- Jewelry as holiday gifts averaged $150 per purchase in U.S. 2023
- Books and media accounted for 5% of Christmas gifts, $52 average spend U.S. 2023
- Personal care items spending was $38 per person during U.S. holidays 2023
- Experiences like concerts took 8% of budgets, $77 average U.S. 2023
- Home entertainment systems spending hit $10 billion U.S. holidays 2023
- Candy and sweets holiday sales were $4.5 billion in U.S. 2023
- Pet gifts during Christmas averaged $55 per U.S. owner in 2023
- Charitable donations as holiday spending reached $15 billion U.S. 2023
- Travel-related holiday expenses averaged $1,200 per U.S. family in 2023
- Alcohol and beverages for Christmas parties cost $120 average U.S. household 2023
- Cards and wrapping supplies spending was $25 per person U.S. 2023
- Toys dominated kids' gifts at 35% of category spend, $200 average U.S. 2023
- Fashion accessories holiday sales $8 billion U.S. 2023
- Kitchenware gifts averaged $80 per recipient U.S. 2023
- Sports equipment holiday spend $3 billion U.S. 2023
- Beauty products Christmas sales up 10% to $2.5 billion U.S. 2023
- Video games holiday revenue $7 billion U.S. 2023
- Flowers and plants for holidays $1.2 billion U.S. 2023
Spending by Category Interpretation
In our festive accounting, we've proven it's more blessed to give than receive, but only by a slim margin of 52% to 48%, with a substantial side of debt, decorations, and enough electronics to power a small town.
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