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Consumers to Spend 5% More on Holiday Gifts This Year »
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Consumers to Spend 5% More on Holiday Gifts This Year
US households are expected to spend an average of $471 on gifts during the holiday season, up some 4.9% from last year’s estimate of $449, according to The Conference Board’s survey of Christmas gift spending intentions.
The top Christmas spenders will be East South Central households (Alabama, Kentucky, Mississippi, Tennessee), who intend to spend $583.
Lowest Christmas spending will be in the West North Central region (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota), where consumers intend to spend $397 on Christmas gifts.
One-third of all households will spend $500 or more on Christmas gifts, with 35% spending $200-$500 and the remaining 31% planning to spend less than $200.
Online Buying
This year, 38% of all consumers will buy Christmas gifts via the internet, the same percentage as a year ago.
Books top the list of online Christmas buying, with 40% saying they will buy books as gifts. Apparel and footwear came in second with 39% of consumers intending to purchase these gifts online. Toys/games rank third as online Christmas buying choices, followed closely by movie videos and DVDs.
Of the 38% who said they purchased Christmas gifts last year via the internet, 91% said they were satisfied with their online buying experience.
Other key findings in The Conference Board survey:
- Households headed by individuals 45-54 intend to spend the most this year, with $485 the average expenditure.
- Households headed by those aged 35-44 intend to spend $479 on gifts.
- Households with incomes of $50,000+ intend to spend $612 for Christmas gifts.
About the study: The Conference Board Christmas Spending Survey 2007 covers a nationally representative sample of 5,000 US households and was conducted for The Conference Board in November by TNS.
