Most Americans trying to stay within their means as they buy gifts this holiday season — CBS News poll (2024)

FAQs

What do Americans buy the most during Christmas? ›

The most popular of these gifts are clothing, toys, and gift cards. Around 76% of consumers buy each of these items every year. One surprising area of Christmas spending is on pet presents. The average American pet receives around 50 dollars in gifts.

In 2022, consumers in the United States expected to spend approximately 920 U.S. dollars on Christmas gifts on average. This is a slight decrease compared to the previous year.

About 34 percent of respondents are choosing to skip presents altogether due to financial pressures, according to WalletHub's 2023 holiday shopping survey.

New Bankrate data shows that about three of those holiday shoppers (33 percent) plan to spend less on holiday shopping this year than they did last year. Between two and three of the shoppers (24 percent) plan to spend more, and around four shoppers (43 percent) plan to spend about the same.

In 2023, total retail sales (online and in-store) during Christmas season was forecast to reach 84.9 billion British pounds in the United Kingdom (UK), making this the largest Christmas season spender.

The most unwanted gifts people receive are diet plans, cufflinks and soap on a string. A poll of 2,000 adults found 75% receive up to seven presents each year which they'll never use — with friends, children and colleagues labeled as the worst present givers.

What is a reasonable amount of Christmas gifts? ›

There is no magic number but the general consensus seems to be between three gifts potentially up to around five. There will be many factors that contribute to this decisions; how many children you have, presents other family members may buy, how old your children are and, of course, budget.

Be honest about not wanting gifts.

“Oh we don't need anything for Christmas” can easily come off as a nicety that is meant to be ignored. If you really would prefer no gifts try explaining your feelings.

Consumers throw away approximately £42 million of unwanted presents each year (most end up in landfill). Of all purchases made in the UK for Christmas, only 1% will still be used six months after the big day. Every year, as much as £42 million worth of Christmas gifts are unwanted (and sent to landfill).

Christmas dinner: Many families celebrate Christmas with a large dinner on Christmas Eve or Christmas Day. Traditional dishes often include roast turkey or ham, mashed potatoes, stuffing, cranberry sauce, and various vegetables like green beans or Brussels sprouts.

The average person in the UK will be spending £602 on Christmas presents in 2023, according to recent Finder research. This is an increase of 40% from a planned spend of £429 per person in 2022. In 2022, the average spend per person had dropped from £548 to £429 amidst the cost of living crisis.

Transportation: 15.9% of the average annual expenditure for American consumers. Groceries: 8.6% of the average annual expenditure for American consumers. Healthcare: 8.1% of the average annual expenditure for American consumers. Utilities: 6.6% of the average annual expenditure for American consumers.