Is Your Christmas Spending Too High? See How Your Budget Stacks Up Against the Stats

Christmas is not just the peak point of the golden quarter but also one of the busiest times for retailers in the US. With the annual holiday budgets on the rise and the shopping spree stimulated by Mariah Carey’s perpetual Christmas anthem, Santa is once again set to fill his sleigh with all kinds of presents. But how much do Americans spend on Christmas each year?

To answer this question, in today’s article we’ll explore the latest Christmas spending statistics, revealing the trends and traditions that follow this holiday season.

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Christmas Spending in the US Stats (Top Picks)

• 71% of US holiday budgets are assigned to buy Christmas presents.
• Americans spend an average of $900 on Christmas every year.
• US holiday sales have grown at a steady rate over the last decade.
• 96% of Americans buy gifts for their families.
• Men spend 10% more than women in buying Christmas gifts.
• Almost half of Americans (48%) begin Christmas shopping before the end of October.
• More than 63% of Americans buy their Christmas presents online.
• The highest-spending Americans over the Christmas holidays are aged 45-54.

Average Christmas Spending in the US

According to the National Retail Federation, Americans spend an average of $902 in Christmas shopping. If we keep in mind the average weekly salary in the US is $1165 (pre-tax), we can conclude that Americans spend about a week’s salary on just Christmas presents every year.

The report also states how the $902 budget is allocated, typically spent on these items:

• Gifts for family and friends- $641 (71% of the total)
• Other seasonal items- $261 (29% of the total)

A report by Statista also shows that most Americans spend their Christmas holiday budget during the second half of November, with only 13% of the shoppers waiting until the last days before Christmas.

Here’s a detailed breakdown of the results:

When do Americans spend most of their Christmas budget?

• Before October ends- 21%
• First half of November- 16%
• Second half of November- 29%
• First half of December- 21%
• Second half of December- 13%
• January- 0.4%

US Christmas Spending Over Time

Data shows how holiday sales have been steadily increasing since 2008. In 2023, Christmas sales reached $964.4 billion, 56% more than the numbers recorded in 2002.

Here’s a detailed look on how Christmas spending in the US has changed over the past two decades:

• 2002- $416.4 billion.
• 2003- $437.6 billion.
• 2004- $467.2 billion.
• 2005- $496 billion.
• 2006- $512.1 billion.
• 2007- $526 billion.
• 2008- $501.5 billion.
• 2009- $502.7 billion.
• 2010- $528.8 billion.
• 2011- $553.3 billion.
• 2012- $557.6 billion.
• 2013- $583.5 billion.
• 2014- $611.5 billion.
• 2015- 628.2 billion.
• 2016- $646.7 billion.
• 2017- $679.2 billion.
• 2018- $691.5 billion.
• 2019- $716.7 billion.
• 2020- $783.4 billion.
• 2021- $889.3 billion.
• 2022- $936.3 billion.
• 2023- $964.4 billion.
• 2024*- $972.92 billion.

(Source: NFR, Statista)

Christmas Gift Shopping in the US

It is expected that this 2024, the average American will spend over $1000 in holiday gifts, reaching a peak point in Christmas shopping. That’s $110 more than they spent on average on 2023. With 95% of US customers having said they intended to buy something during this holiday season, this forecast is set to become a reality.

If we take a closer look at the types of presents bought during Christmas, Americans spend the most purchasing gifts for their families. This tendency has been stable during the past decade, with over 95% of the Christmas budget spent on gifts for family.

However, the number of people purchasing holiday gifts for friends has been decreasing since 2004, reaching its lowest in 2020. The same can be said about buying gifts for coworkers.

Here’s  a detailed breakdown of the results over time:

• 2004- Gifts for family (98%), Gifts for friends (80%), Gifts for coworkers (39%) Other gifts (50%).
• 2005- Gifts for family (98%), Gifts for friends (81%), Gifts for coworkers (38%) Other gifts (48%).
• 2006- Gifts for family (98%), Gifts for friends (83%), Gifts for coworkers (40%) Other gifts (52%).
• 2007- Gifts for family (98%), Gifts for friends (80%), Gifts for coworkers (37%) Other gifts (47%).
• 2008- Gifts for family (98%), Gifts for friends (80%), Gifts for coworkers (41%) Other gifts (49%).
• 2009- Gifts for family (98%), Gifts for friends (75%), Gifts for coworkers (33%) Other gifts (42%).
• 2010- Gifts for family (97%), Gifts for friends (74%), Gifts for coworkers (32%) Other gifts (45%).
• 2011- Gifts for family (97%), Gifts for friends (74%), Gifts for coworkers (32%) Other gifts (44%).
• 2012- Gifts for family (97%), Gifts for friends (72%), Gifts for coworkers (32%) Other gifts (44%).
• 2013- Gifts for family (96%), Gifts for friends (71%), Gifts for coworkers (31%) Other gifts (42%).
• 2014- Gifts for family (97%), Gifts for friends (73%), Gifts for coworkers (35%) Other gifts (44%).
• 2015- Gifts for family (96%), Gifts for friends (71%), Gifts for coworkers (33%) Other gifts (43%).
• 2016- Gifts for family (97%), Gifts for friends (71%), Gifts for coworkers (33%) Other gifts (43%).
• 2017- Gifts for family (97%), Gifts for friends (70%), Gifts for coworkers (33%) Other gifts (44%).
• 2018- Gifts for family (97%), Gifts for friends (70%), Gifts for coworkers (33%) Other gifts (42%).
• 2019- Gifts for family (96%), Gifts for friends (70%), Gifts for coworkers (34%) Other gifts (42%).
• 2020- Gifts for family (96%), Gifts for friends (67%), Gifts for coworkers (31%) Other gifts (41%).
• 2021- Gifts for family (96%), Gifts for friends (68%), Gifts for coworkers (30%) Other gifts (41%).

Christmas Non-Gift Shopping in the US

According to Deloitte’s Holiday Retail Survey 2024, the average American will spend $507 in non-gifts and $735 in experiences this Christmas. These numbers have increased 9% and 16% respectively since 2023. This shows how this year, Americans will prioritize doing things and spending on decoration than buying gifts for friends and family.

Here’s a detailed breakdown of the results and how they’ve changed in the past years:

• 2019- Gifts ($511), Non-Gifts ($389), Experiences ($596).
• 2020- Gifts ($487), Non-Gifts ($435), Experiences ($465).
• 2021- Gifts ($501), Non-Gifts ($425), Experiences ($536).
• 2022- Gifts ($507), Non-Gifts ($373), Experiences ($576).
• 2023- Gifts ($554), Non-Gifts ($466), Experiences ($632).
• 2024*- Gifts ($536), Non-Gifts ($507), Experiences ($735).

(*estimated)

US Planned Locations for Christmas Shopping 2024

Online retailers are the go-to place for Christmas shopping this 2024, with 71% of consumers intending to do their shopping there. In second position we find mass merchant retailers such as Walmart or Target with 55%. Department stores and off-price retailers are in 3rd and 4th position, with 31% and 29% respectively.

Here’s a complete breakdown of the results:

• Online retailers- 71%
• Mass merchant retailers- 55%
• Department stores- 31%
• Off-price retailers- 29%
• Local independent stores- 28%
• Warehouse membership clubs- 26%
• Beauty/cosmetic retailers- 26%
• Supermarkets or grocery stores- 24%
• Bookstores- 24%
• Outlet stores/malls- 23%
• Electronics/office supply/computer retailers- 21%
• Arts/crafts stores- 18%
• Specialty clothing retailers- 18%
• Home improvement/ hardware retailers- 17%
• Dollar stores- 17%
• Pet stores- 16%
• Jewelry stores- 14%
• Toy stores- 14%
• Sporting good stores- 14%

(source: Deloitte)

US Christmas Spending by Region

A recent report made by Statista shows that, with less than a $100 difference between regions, Christmas spending is distributed evenly in the US.

Here’s the expected Christmas expenditure for consumers in the United States depending on their region:

• Northeast- $1054
• Midwest- $995.68
• South- $954.52
• West- $1017.2

US Christmas Spending by Genre

A survey made by Gallup shows that men are more inclined to spend money during Christmas holidays than women. On average, male consumers spend $1074, 11% more than women ($952).

Regarding what presents men and women buy, there’s barely any difference. The greatest differences are found in how men spend more in buying presents for coworkers, while women prefer spending in candy and food.

Here’s a breakdown of the results:

• Gifts for family- Men (96%), Women (96%)
• Gifts for friends- Men (68%), Women (69%)
• Gifts for coworkers- Men (33%), Women (28%)
• Other gifts- Men (42%), Women (40%)
• Decorations- Men (68%), Women (70%)
• Greeting cards and postage- Men (69%), Women (68%)
• Candy and food- Men (89%), Women (93%)
• Flowers- Men (47%), Women (45%)
• Non-gift- Men (48%), Women (47%)

Christmas Gift Preference by Gender

While giftcards, clothing and accessories are the preferred type of Christmas gift for men and women in the US, there are significant differences in which are the most popular gift types by genre.

Here’s a detailed breakdown of the results, showing how popular each type of gift is for both men and women:

• Gift cards- Men (48%), Women (64%).
• Clothing and accessories- Men (44%), Women (50%)
• Books and other media- Men (33%), Women (32%)
• Electronics and accessories- Men (33%), Women (20%)
• Sporting goods- Men (23%), Women (10%)
• Home improvement items- Men (19%), Women (14%)
• Home decor and furnishing- Men (15%), Women (31%)
• Jewelry- Men (10%), Women (28%)
• Personal care & beauty- Men (10%), Women (30%)
• Other- Men (7%), Women (7%)

US Christmas Spending by Age

Americans aged from 45 to 54 years are the group that will spend the most during the Christmas holidays, reaching an average of $1161.98. That is almost half of the total 18-24 year olds are going to spend ($649.81). 

Here’s a detailed list of Christmas expenditure by age:

• 18-24: $649.81
• 25-34: $888.98
• 35-44: $1083.74
• 45-54: $1161.98
• 55-64: $999.92
• 65+: 1077.41

Christmas Tree Spending in the US

Having a Christmas tree is almost as important as giving and receiving gifts during this holiday season. But… How much does the average American spend on their Christmas tree? According to a recent survey made by Statista, age plays a significant part of the amount of money that US consumers are willing to pay for their tree.

As the data shows, on average younger groups are spending more money on their Christmas trees, with consumers aged from 18 to 29 years planning to spend $50-$100 on them.On the other hand, the eldest group plans to either spend very little (up to $25) or very much (more than $100).

Here’s a detailed look on how much the average US consumer will spend on their tree this 2024:

• 18 to 29 years: Up to $25 (18%), Less than $25 to $50 (22%), Less than $50 to $75 (30%), Less than $75 to $100 (29%), More than $100 (14%).
•  30 to 49 years: Up to $25 (37%), Less than $25 to $50 (41%), Less than $50 to $75 (42%), Less than $75 to $100 (48%), More than $100 (45%).
• 50 years or older: Up to $25 (45%), Less than $25 to $50 (37%), Less than $50 to $75 (28%), Less than $75 to $100 (23%), More than $100 (40%).

Conclusion

While Christmas is a lucrative time for department stores, supermarkets, specialty stores and online retailers, it’s also a season of great expenses for the average American. As data shows, the global economy plays an important part in the holiday budget, and Christmas spending is set to keep growing year after year as long as it remains stable.