It’s the most wonderful time of the year: Christmas! Every year, Americans go out of their way to make the holidays extra special, but how much do Americans actually spend on Christmas? That’s the question we’ll be exploring in this Video. We’ll look at how much the average American spends on gifts, decorations, food, and more in order to get a better idea of just how much money goes into making the holidays merry and bright. So, if you’re curious about how much Americans spend on Christmas, watch more.
When it comes to Christmas spending, Americans are no strangers to opening their wallets. In 2019, a survey from the National Retail Federation found that consumers planned to spend an average of $1,047 on Christmas gifts, decorations, food and more.
However, this amount is not just for gifts. People also spend money on travel, decorations, food and more in preparation for the holiday season. All in all, the average American spends around $920 on all holiday related expenses.
This figure is just an estimate and the amount people actually spend can vary greatly depending on individual circumstances and location. For example, according to the Bureau of Labor Statistics, people living in the Northeast region of the United States tend to spend around $1,077 on Christmas expenses. On the other hand, those living in the Midwest and South regions spend around $903 and $822 respectively.
How Much Money American’s Spend On Gifts?
When it comes to Christmas gifts, Americans typically don’t hold back. A 2017 study conducted by the National Retail Federation showed that the average American household spends an estimated $967 on gifts. Of that, over half ($501) is spent on children. Adults are not left out, though, as the same study found that the average adult in America spends an estimated $241 per person on gifts.
These gifts come in many forms, ranging from clothing and toys to electronics and gift cards. According to a survey conducted by the research firm Consumer Intelligence Research Partners (CIRP), Americans spent an average of $266 on gifts for family members and $104 for friends in 2017. Those numbers increased substantially for 2018, with an average of $297 spent on family members and $128 spent on friends.
When considering what types of gifts to give, most Americans turn to traditional presents such as clothing and toys. However, experiences such as vacations or tickets to sporting events are becoming increasingly popular. According to the same CIRP survey, 45% of Americans gave experience-based gifts in 2018, compared to just 37% in 2017.
How Much Money American’s Spend On Travel?
For many Americans, the holiday season means taking to the roads, skies and rails for trips to visit family or friends. According to the American Automobile Association (AAA), an estimated 111.5 million Americans are expected to travel between December 23 and January 1 of 2020. That’s a 4.4% decrease from 2019’s numbers, but it still leaves plenty of people on the move.
Air travel is expected to be down 6.7%, AAA notes, with about 7.6 million people taking to the skies. That could mean lower costs for airfare, but travelers should also expect higher rates for hotels and car rentals as demand rises.
Driving remains the most popular method of holiday travel, and a staggering 103.4 million Americans are expected to make trips of 50 miles or more by car this season.
The National Retail Federation notes that those who drive are likely to spend an average of $439 on gas and other travel-related expenses during the holiday season, while those who fly will typically spend around $715. Those numbers don’t include hotel stays or rental cars.
For many Americans, holiday travel is an important part of the tradition. Despite any logistical hassles, being able to spend time with family and friends is a reward in itself.
How Much Money American’s Spend On Food?
When it comes to Christmas, food is an important part of the holiday celebration. According to the U.S. Department of Agriculture, the average American household spends approximately $450 on food related items for Christmas. This includes items like turkey, ham, candy and other specialty items that are associated with the holiday. Eating out is also a popular choice when it comes to Christmas meals with many families opting to eat at a restaurant or even take home meals instead of preparing a meal at home. The cost of eating out varies depending on the type of establishment chosen and how many people are being served, but this can add up to significant spending as well. Additionally, many Americans spend money on alcohol during the holidays, either to serve at home or when out celebrating. This is another expense that needs to be taken into account when calculating overall Christmas spending.
How Much Money American’s Spend On Décor?
When it comes to decorations for the holiday season, Americans are not skimping. In 2019, US consumers spent a whopping $9.1 billion on Christmas decorations for their homes and yards. Of that, $4.5 billion was spent on indoor decorations and $3.3 billion on outdoor decorations. Lights are a popular choice, with LED lights outselling traditional incandescent bulbs. Other popular items include artificial trees and ornaments.
Americans also enjoy getting festive with their cars. The website AutoZone reported sales of more than one million car decorations in 2019, a 34 percent increase over 2018. While many people opt for traditional window clings and magnetic reindeer antlers, others go all out with inflatable characters that sit on top of their vehicles.
For those who really want to get into the spirit, there’s no limit to how much money can be spent on décor. For example, a British company sells a giant, 8-foot tall LED Christmas tree that’s currently priced at $11,400.
No matter how much people choose to spend, Christmas décor is an important part of celebrating the holiday season for many Americans. Decorating helps create a cozy atmosphere for family gatherings and spreads holiday cheer for everyone who sees it.
Basically in America we have a spending problem and we as an collective need to slow down. If your money isn’t making more money for you while you sleep then you shouldn’t be spending so much on holidays. This is just my opinion. Thanks for reading and watching.
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