Home/Economy/Articles/How much money do Americans spend on holiday shopping?
Americans spent an estimated $531.8 billion in the retail sector in December 2022, according to the Census Bureau’s Monthly Retail Trade Report. That’s about $1,600 per person and $3,800 per household.
That spending followed an estimated $486.2 billion spent in the same sector in November, adjusted for inflation, as the holiday season ramped up.
The Census Bureau tracks estimated spending at businesses that sell goods in small quantities directly to consumers, including supermarkets, department stores, clothing, furniture, electronics, e-commerce, and more. It does not include wholesalers or money spent on motor vehicles, automotive parts, or gasoline. This includes all retail, non-automobile spending, whether it’s specific to holiday purchases or not — but the holidays have an annual impact.
December was the highest-spending month from 1992 to 2022. November was the second-highest month for each year, with the exception of 2008, 2014, and 2022.
How has Americans’ holiday-season spending changed in recent years?
According to Census data, December retail spending has increased in most years since the 2008 financial crisis, excluding 2018 and 2022. When adjusted for inflation to December 2022 dollars, Americans spent 20% more on retail purchases in December 2022 compared to December 2012, and 61% more than in December 1992.
However, retail spending throughout the year has also increased while December’s share of all annual spending has declined. In 2022, December accounted for 9.4% of all retail spending over the year, compared with 11.2% in 1992, 10.6% in 2002, and 10.0% in 2012.
How much did Americans spend at toy stores in 2022?
Americans spent an estimated $2.9 billion at hobby, toy, and game stores in December 2022, according to Census data. That month accounted for 13.4% of all spending at these stores in 2022. (This figure doesn’t capture spending on toys at other types of retailers, including department stores, supermarkets, or electronic stores.)
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Historically, how much does retail spending increase toward the end of the calendar year?
Census Bureau data from 1992 to 2022 shows that US retail spending increased, on average, 11% from the third quarter (July through September) to the fourth quarter (October through December) of the calendar year.[1] However, this third to fourth quarter growth has fallen over time, from 15% in 1992 to 6% in 2022. It was lowest in 2008, increasing 3% from Q3 to Q4.
Between 1992 and 2022, monthly average retail spending increased each month from September to December. December retail spending averaged $429.8 billion in constant dollars, which is 19% higher than the November average of $361.2 billion and 28% higher than the average for January through November.
How much holiday shopping happens online?
E-commerce retail sales[2] grew during the pandemic and have remained higher than pre-pandemic levels. Quarterly Census Bureau data shows that holiday spending (defined in this instance as spending during Q4) has followed the same trend. In the fourth quarter of 2019, around 15% of retail, non-automobile sales occurred online. In 2020, that figure rose to over 20%, and rates have remained at similar levels in 2021 and 2022.
How does the government track spending?
The Census Bureau conducts the Monthly Retail Trade Survey to provide estimates of retail activity in the United States. The survey covers retail companies that sell merchandise and related services to final customers. A sample of firms is surveyed each month, and voluntary responses are used to produce national estimates, with quality control measures to account for limitations and errors within the methodology.
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Monthly Retail Trade Report
- [1]
This data isn’t limited to holiday spending. Many factors, such as shifts in the broader economy, can contribute to changes from one month or quarter to the next.
- [2]
The Census Bureau defines e-commerce sales as sales of goods and services where the buyer places an order, or the price and terms of the sale are negotiated, over an Internet, mobile device (M-commerce), extranet, Electronic Data Interchange (EDI) network, electronic mail, or other comparable online system. Payment may or may not be made online.
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FAQs
Nearly Nine in 10 Americans Partake in Holiday Shopping
How much do Americans spend on holiday shopping? ›
Last year, average consumer holiday spending amounted to $1,430. This figure is expected to rise by 7% to $1,530 in 2023.
What is the average amount of money people spend on holidays? ›
Biggest annual retail holidays
| Holiday | Period | Average spend (USD)* |
|---|
| Christmas | December | $1,000 per person |
| Back-to-school shopping | January – February and August – September | $890 per household |
| Black Friday | November | $430 per person |
| Lunar New Year | January – February | $300 per person |
16 more rowsDec 8, 2023
Average American Spending per Day: All Ages
Overall, Americans spend the most on housing, followed by groceries, utilities, and health insurance.
Do people spend more during the holidays? ›
'Tis the season to shop, and a new holiday survey from American Express Pay It Plan It found that 86% of millennials (23 to 38) spent more money during the holidays last year than they planned to. Of those who overspent, about one in five (21%) went over budget by approximately $500 or more.
What is the average amount of money Americans spend on Halloween? ›
How much do you spend on Halloween? If you're like most Americans, it'll be somewhere north of $100. Nationwide, the average person is expected to lay out $108.24 for Halloween, as spending on this scary holiday is predicted to break past pre-pandemic levels in 2023, according to the National Retail Federation.
How much do people spend on kids for Christmas? ›
Meanwhile, 35% of parents plan to spend between $50 and $150 per kid, while 12% are budgeting between $150 and $200. Just 19% of American parents say they'll spend more than $200 on each child's gifts. 11% responded that they weren't yet sure on how much they would be forking out for festive gifts.
How much does the average American spend on Christmas food and goodies? ›
Unsurprisingly, Christmas gifts make up the majority of total holiday budgets. In 2021, this amounted to $648 per person, on average. Next, non-gift items like food and decorations accounted for $231 while other non-gift purchases came to $118.
How much does the average American spend on Christmas decorations? ›
According to our research, the average American spends an estimated $147 annually on holiday decorations — but that varies substantially depending on where you are.
How much do Americans spend on clothing? ›
The average person spends around $161 per month on clothes – women spend nearly 76% more than men do on clothing in a year. The average family of four spends around $1800 per year on clothes, with $388 of this on shoes.
According to the same 2022 BLS study, the average American's monthly expenses are $6,080, 1 which is about 77% of the average monthly income before taxes. This list of expenses covers everything from housing, health insurance and food to entertainment, personal care products and books.
What is the single biggest expense for the average American? ›
Housing is by far the largest expense for Americans. Monthly housing expenses in 2022 averaged $2,025, a 7% increase from 2021.
What does the US spend the most money on? ›
In 2023, major entitlement programs—Social Security, Medicare, Medicaid, Obamacare, and other health care programs—consumed 50 percent of all federal spending. Soon, this spending will be larger than the portion of spending for all other priorities (such as national defense) combined.
How much do Americans spend on holiday shopping per person? ›
Home / Economy / Articles / How much money do Americans spend on holiday shopping? Americans spent an estimated $531.8 billion in the retail sector in December 2022, according to the Census Bureau's Monthly Retail Trade Report. That's about $1,600 per person and $3,800 per household.
What holiday do people spend the most money on? ›
According to NRF, the top spending holidays in the USA are:
- Back to College.
- Winter Holidays.
- Back to School.
- Mother's Day.
- Easter.
- Valentine's Day.
- Father's Day.
- Graduation.
However, a common guideline is to allocate around 1-2% of your annual income for gifts. Again, it's super important to set a budget that aligns with your financial health and priorities, which ensures a joyful holiday season with minimal financial stress.
How much does the average American spend on grocery shopping? ›
How much does the average household spend on groceries per month? The average American household spends an average of $475.25 a month on groceries, according to the most recently available dataset from the U.S. Bureau of Labor Statistics from 2022. That's a total of $5,703 spent on groceries in a year.
Are people buying less for Christmas? ›
While inflation is cooling, it is continuing to squeeze budgets, causing some Americans to rethink their gift-giving traditions. About 34 percent of respondents are choosing to skip presents altogether due to financial pressures, according to WalletHub's 2023 holiday shopping survey.
What is the most popular shopping day during the holiday season? ›
Black Friday: The Day After Thanksgiving
Starting in the 1960s, Philadelphia police used the term “Black Friday” to describe the traffic jams, crowded sidewalks, and pandemonium they witnessed on the day after Thanksgiving—the start of the Christmas shopping season.
How much did the average American spend on presents last year? ›
Line graph. Trend in October readings from 2006 to 2022 in average amount Americans expect to spend on Christmas gifts each year. Current $932 is up from $837 in 2021 and the highest since 2019, when people expected to spend $942 on average.
