Key Takeaways
- U.S. holiday consumer spending hit a record $989.5 billion in 2023, up 3.8% from the previous year.
- Global holiday e-commerce sales are projected to reach $1.2 trillion by 2025, driven by mobile shopping growth.
- Average U.S. household holiday spending was $902 in 2023, with gifts accounting for 52% of total.
- 52% of U.S. shoppers are millennials, spending average $450 on holiday gifts.
- Gen Z shoppers (18-24) plan to spend 15% more than average at $520 per person in 2023.
- Baby boomers (55+) account for 28% of holiday spending, averaging $650.
- 62% of U.S. shoppers bought online before Black Friday 2023.
- Mobile commerce accounted for 55% of holiday e-sales, $132 billion U.S.
- In-store shopping still 60% of total holiday volume despite online growth.
- Toys category topped holiday gifts at 25% of purchases, $25B U.S.
- Electronics/gadgets 22% share, average $250 per item.
- Clothing/apparel 18%, with loungewear up 40%.
- Returns averaged 16.5% of holiday purchases in 2023.
- 75% of returns occur within first 30 days post-Christmas.
- Online returns rate 20.8% vs 8.9% in-store.
Record holiday spending reached nearly one trillion dollars globally last year.
Consumer Demographics
- 52% of U.S. shoppers are millennials, spending average $450 on holiday gifts.
- Gen Z shoppers (18-24) plan to spend 15% more than average at $520 per person in 2023.
- Baby boomers (55+) account for 28% of holiday spending, averaging $650.
- Women drive 57% of U.S. holiday shopping decisions and spending.
- Urban dwellers spend 20% more on holidays ($1,100 avg) vs rural ($850).
- Parents with children under 18 spend average $1,200 on holiday gifts.
- Single adults spend 30% less than families, averaging $600.
- High-income households (>100k) spend $1,500 avg, 40% on luxury.
- Low-income (<50k) shoppers 65% seek discounts, spend $400 avg.
- Hispanic consumers boost holiday spending by 12% to $750 avg.
- African American shoppers spend 18% more on gifts, $800 avg.
- Asian American holiday spending averages $950, focused on tech.
- 40% of Gen X (45-54) prioritize experiences over gifts, spending $700.
- Remote workers spend 25% more online during holidays.
- College students average $300 holiday budget, 70% via apps.
- Seniors over 65 spend $550 avg, 50% on family gifts.
- Empty nesters increase self-gifting by 35% to $400.
- LGBTQ+ shoppers spend 10% more on inclusive brands, $750 avg.
- Veterans families spend $900 avg, seeking military discounts.
- 35% of shoppers with disabilities use voice shopping, avg spend $650.
- Eco-conscious consumers (25% of pop) spend $800 on sustainable gifts.
- Pet owners (70 million U.S. households) spend $200 avg per pet.
- Gamers demographic spends $1,000 avg on gaming gear.
- Fitness enthusiasts up 22% spending to $450 on gear.
- Foodies allocate 30% of budget ($300) to gourmet gifts.
- Book lovers (20% U.S. adults) spend $150 avg on titles.
- Music fans stream/purchase $100 avg holiday music/gifts.
- Travel buffs book $2,000 avg holiday trips early.
Consumer Demographics Interpretation
Gift Categories
- Toys category topped holiday gifts at 25% of purchases, $25B U.S.
- Electronics/gadgets 22% share, average $250 per item.
- Clothing/apparel 18%, with loungewear up 40%.
- Gift cards 15% of spending, $28 billion total.
- Books 8%, audiobooks surged 25%.
- Home/kitchen appliances 12%, air fryers top seller.
- Beauty/skincare 10%, sets up 30%.
- Jewelry 7%, personalized up 50%.
- Experiences (tickets/concerts) 9%, doubled post-COVID.
- Pet products 6%, toys/chews leading.
- Video games 5%, new consoles $15B.
- Sports/outdoor gear 4%, fitness trackers hot.
- Food/gourmet baskets 5%, chocolates dominant.
- Art/crafts supplies 3% for hobbyists.
- Sustainable/eco gifts 11% growth to 4% share.
- Kids' STEM toys up 35% in science kits.
- Adult coloring books/puzzles 2.5% niche.
- Wine/spirits gift sets $8B U.S.
- Personalized photo gifts $3B via apps.
- Board games surged 28% family play.
- Smart home devices 6%, bulbs/speakers lead.
- Handbags/wallets 4%, designer dupes popular.
- Candles/home fragrance $2.5B seasonal.
- Subscriptions (Netflix/Spotify) 3% gifting.
- Charitable donations as gifts 2%, up 15%.
Gift Categories Interpretation
Post-Holiday Trends
- Returns averaged 16.5% of holiday purchases in 2023.
- 75% of returns occur within first 30 days post-Christmas.
- Online returns rate 20.8% vs 8.9% in-store.
- Total U.S. holiday returns value $885 billion in 2023.
- Wardrobing (wear-return) accounts for 25% of apparel returns.
- Return fraud losses $101 billion annually, peaks holidays.
- 40% of consumers buy extras expecting returns.
- Free returns influence 67% of online purchases.
- January retail sales dip 10% post-holidays due to returns.
- Gift card redemptions peak 50% in January.
- 30% of gifts are exchanged for different sizes/colors.
- Electronics returns 15%, often for upgrades.
- Toys returns drop to 5% with better sizing.
- Sustainable packaging reduces returns by 12%.
- AI-powered return predictions cut fraud 20%.
- Resale market for returns grows 25% post-holidays.
- 55% prefer store credit over refunds.
- International returns complicate 10% of cross-border sales.
- Mobile apps for returns used by 45% of millennials.
- Post-holiday clearance sales boost revenue 15%.
- Inventory clearance reduces waste by 30% via apps.
- Customer satisfaction drops 20% with return hassles.
- Extended return windows (60 days) increase loyalty 18%.
- Toy returns peak for age-inappropriate gifts 22%.
- Apparel size mismatches cause 40% returns.
- Post-holiday debt peaks at $1,000 avg per household.
- January gym sign-ups surge 34% from fitness gifts.
Post-Holiday Trends Interpretation
Shopping Channels
- 62% of U.S. shoppers bought online before Black Friday 2023.
- Mobile commerce accounted for 55% of holiday e-sales, $132 billion U.S.
- In-store shopping still 60% of total holiday volume despite online growth.
- Buy Online Pick Up In Store (BOPIS) orders up 25% to 40% of online sales.
- Social commerce via Instagram/TikTok generated $20 billion holiday sales.
- Voice shopping via Alexa/Siri rose 30% to 15% of e-commerce.
- Livestream shopping sales hit $50 billion globally, 20% U.S. holidays.
- Click-and-collect services fulfilled 28% of online orders.
- AR try-on features boosted conversion 35% in fashion e-stores.
- Subscription box services saw 18% holiday sign-ups.
- Marketplace platforms like Amazon 45% of online holiday sales.
- Direct-to-consumer brands captured 15% via owned sites.
- TV home shopping channels generated $10 billion holiday revenue.
- Catalog shopping made a comeback with 5% digital catalogs.
- Pop-up stores increased foot traffic 40% during holidays.
- Curb-side pickup orders up 50% post-pandemic.
- Omnichannel shoppers spend 30% more than single-channel.
- International cross-border e-commerce $100 billion holiday.
- App-exclusive deals drove 25% mobile app downloads.
- Email marketing click-through 20% higher during holidays.
- SMS alerts influenced 12% of impulse buys.
- In-app purchases via games/apps $5 billion holiday.
- VR shopping experiences piloted 10% conversion lift.
- NFC/contactless payments 70% of in-store transactions.
- Self-checkout kiosks used by 55% of shoppers.
Shopping Channels Interpretation
Total Spending
- U.S. holiday consumer spending hit a record $989.5 billion in 2023, up 3.8% from the previous year.
- Global holiday e-commerce sales are projected to reach $1.2 trillion by 2025, driven by mobile shopping growth.
- Average U.S. household holiday spending was $902 in 2023, with gifts accounting for 52% of total.
- Holiday sales in November and December 2022 contributed 19.1% to annual U.S. retail sales.
- U.K. Christmas spending reached £89 billion in 2023, a 2.5% rise year-over-year.
- Cyber Monday 2023 generated $12.4 billion in U.S. online sales, up 9.6% from 2022.
- Black Friday 2023 U.S. sales hit $9.8 billion online, a 7.5% increase.
- Total U.S. holiday online sales for 2023 were $240.4 billion, representing 24% of total holiday sales.
- Canadian holiday spending averaged CAD 1, insights from 2023 surveys.
- European Union holiday retail sales grew 4.1% in 2023 to €450 billion.
- Australian Christmas retail sales surged 3.2% to AUD 60 billion in 2023.
- Brazil's holiday e-commerce sales jumped 15% to R$20 billion in 2023.
- India's festive season sales reached INR 5 lakh crore in 2023, up 12%.
- Japan's year-end shopping sales totaled ¥10 trillion in 2023.
- South Korea's Chuseok and Christmas combined holiday sales hit KRW 50 trillion.
- U.S. small business holiday sales contributed $1 trillion to economy in 2023.
- Luxury holiday spending globally reached $150 billion in 2023.
- Food and beverage holiday sales in U.S. grew 5% to $120 billion.
- Travel-related holiday bookings added $50 billion to U.S. spending.
- Charity donations during holidays totaled $85 billion in U.S. 2023.
- Pet holiday gifts spending reached $12.5 billion in U.S.
- Home decor holiday sales up 6% to $35 billion U.S.
- Electronics holiday category sales $150 billion globally 2023.
- Apparel holiday sales $90 billion in U.S. 2023.
- Toys and games holiday revenue $25 billion U.S.
- Beauty products holiday sales $40 billion worldwide.
- Books holiday sales spiked 10% to $2 billion U.S.
- Sporting goods holiday up 8% to $15 billion U.S.
- Jewelry holiday sales $12 billion U.S. 2023.
- Furniture holiday purchases $20 billion U.S.
Total Spending Interpretation
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