Americans Won't Spend Less Over The Holidays, But Will Spend Differently

We’re getting to that time of the year where all thoughts more towards holiday shopping. Inflation will likely have an effect on this holiday season, but according to a new poll, people don’t necessarily plan to spend less, but they do plan to spend differently.

A new poll finds:

  • 55% of Americans say they plan to spend more this holiday season due to inflation.
  • While 15.6% of shoppers said they had planned to spend between $200 and $300 last year, that number goes up to 18.5% this year.
  • And 10.4% plan to spend more than $1,000 this year, something only 9.9% of people said last year.
  • Only 31% of people actually say they plan to spend less this year.
  • But 34% say their aim is to spend about the same “but on fewer gifts.”

One way for some to beat inflation was to start shopping early.

  • In fact, 64% of Americans said they’re starting their shopping earlier than last year, with 14% saying it’s because of inflation.
  • Realizing that inflation wasn’t going way, 15% actually started their holiday shopping over the summer.
  • For 45%, big reasons to start shopping earlier included “concerns about supply” and “avoiding price markups.” 

Unfortunately, even with these tactics, some people will go into debt for the holidays.

  • Half of holiday shoppers will use credit cards for their shopping.
  • 45% expect their holiday shopping debt to be less than $100.
  • 4% expect it to be over $500.
  • 5% expect to wind up with $1,000 on their credit cards.


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