The holiday season is here, and shoppers across the country are gearing up for a spending frenzy. With Thanksgiving behind us and Christmas fast approaching, retailers are bracing for what could be a record-breaking year. From gifts to decorations, Americans are set to splurge like never before.
Record-Breaking Holiday Spending
The National Retail Federation (NRF) forecasts that the average American shopper will spend $902 this holiday season. That’s $25 more than last year and $16 higher than the previous record in 2019. Shoppers are allocating their budgets to gifts, food, decorations, and other holiday essentials.
Trae Bodge, a smart shopping expert at TrueTrae, believes this spending surge comes with a cautious approach. “It’s a record year, but consumers are looking for deals,” she said. “People want to make their dollars go further while still enjoying the season.”
Shorter Holiday Season Brings More Rush
Thanksgiving fell on November 28 this year, leaving just 27 days until Christmas. With less time to shop, people feel more urgency. Events like Black Friday and Cyber Monday are expected to see big spikes in activity.
Trae Bodge, a shopping expert, explained the impact. “Fewer days between Thanksgiving and Christmas means people are shopping sooner,” she said. “Last-minute shopping will also peak as the holidays get closer.”
Retailers are making the most of the short season by launching early deals and running promotions throughout December. This strategy appeals to both early planners and last-minute shoppers.
What Trends Are Emerging?
The NRF will soon share spending data from the Thanksgiving weekend. These insights will help show how shoppers are behaving this season. Early numbers from Black Friday and Cyber Monday will reveal if spending stays strong.
So far, electronics, toys, and decorations seem to dominate shopping lists. Gift cards are also a hit, offering convenience for shoppers and flexibility for recipients.
How People Are Spending
Consumers are spending more, but they’re careful. Many hunt for deals to stretch their budgets. Some skip non-essentials and focus on meaningful gifts or experiences.
Food and drinks are also in demand. Holiday parties and family gatherings fuel this category, making it a key part of seasonal spending.
Despite the shorter timeline, the season looks bright for retailers. Shoppers are motivated, even if they’re spending with more thought.
