Every holiday season, millions of shoppers empty their wallets to put presents under the Christmas tree, decorate their homes and put food on the table. This year, the average American will shell out $749.51 on all holiday-related expenses, which includes gifts, decorations and food. The large majority of that money – $548.56 to be exact – will go toward gifts.
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So, just what are all these gifts and who is getting them?
According to the National Retail Federation, gift cards are the most requested present while fashion, apparel and accessories are the most popular. More than three-quarters ($421.82) of all money spenton gifts goes to family members while friends ($75.13) and co-workers ($23.48) get a much smaller piece of the pie. More than four in ten people will use their debit card to make their purchases.
Check out “The Anticipated Cost of Christmas” infographic for a more in-depth look at how Americans
are spending their money this holiday season.
(Click on the Image For Full View)