We all enjoy the holiday season, and we try to make it as memorable and enchanted as possible each year. But all this enchantment comes with a cost. Holiday spending can turn the most wonderful time of the year into the most expensive.
Let’s take a look at just how much Americans spend on the holidays, what they spend on, and who spends the most.
Key Findings:
- In 2022, Americans spent $929.5 billion on holiday-related purchases.
- The average cost of Christmas shopping in the United States was $833 per person in 2022.
- Gifts are the biggest expense for individuals, followed by seasonal items.
- Men spend $94 more than women, on average, on holiday-related purchases.
- More than half of consumers prefer buying presents online instead of going into a store.
- 50% of people are likely to start holiday shopping before the end of October.
How Much do Americans Spend on Holidays?
Americans spent $929.5 billion on holiday-related purchases in 2022. For comparison, that amounts to over 3.3 times the national GDP of Finland, Santa Claus’ home country.[1]✓
✓ Trusted source
National Retail Federation
The National Retail Federation is the biggest retail trade association in the world.
Holiday Spending By Category
Let’s break down the categories of goods that customers spent money on for Christmas, which amounted to a total of $833 per person in 2022.
Gifts
A breakdown of the cost indicates that $586 of the total amount was allocated for gifts. Out of the amount left, $247 was used on seasonal items such as decorations, cards, candy and food.[1]✓
✓ Trusted source
National Retail Federation
The National Retail Federation is the biggest retail trade association in the world.
Seasonal items
Americans spent $247 on average on seasonal items such as decorations, cards, candy and food. That’s a $16 increase compared to 2021, when the average was $231.[1]✓
✓ Trusted source
National Retail Federation
The National Retail Federation is the biggest retail trade association in the world.
Holiday Spending by Age & Gender
Next we’ll look at the amount spent on Christmas shopping by all age groups and genders in 2021.
Holiday Spending by Age
Among all age categories, those between the ages of 45 and 55 spent the most ($1,162) during the Christmas season. This income group typically has the largest and most stable incomes, the best access to credit, and the most family obligations, which explains their higher spending. [1]✓
✓ Trusted source
National Retail Federation
The National Retail Federation is the biggest retail trade association in the world.
Holiday Spending by Gender
Statistics show that women spent less than men during the holiday season of 2021. To be more specific, women spent $952 on average for Christmas, while men spent $1046.[1]✓
✓ Trusted source
National Retail Federation
The National Retail Federation is the biggest retail trade association in the world.
Where Do Americans Shop for the Holidays?
Data gathered by the National Retail Federation shows that in 2022, 57% of consumers preferred to buy gifts and items online instead of going to the store. This is a convenient and fast way of crossing things off the Christmas list while avoiding crowded stores.[1]✓
✓ Trusted source
National Retail Federation
The National Retail Federation is the biggest retail trade association in the world.
When Are Americans Most Likely to Start Their Holiday Shopping?
It goes without saying that the earlier you begin planning for the holidays, the less stress there will be throughout the Christmas season. That’s why 50% of people are likely to start shopping before October ends. Only 10% get started with holiday shopping during December. Some of them (1%) even said they’re most likely to start shopping in January![3]
Christmas vs. Other Holidays
Data from 2023 shows that Christmas has the greatest average spending of any holiday, at $875 per person, which may not come as a surprise. Inflation is likely to put a dent in that spending, but it will still exceed spending for Mother’s Day, the holiday with the second-highest average spending per person at $274.[1]✓
✓ Trusted source
National Retail Federation
The National Retail Federation is the biggest retail trade association in the world.
Christmas Spending in the U.S. vs. Other Countries
Data from WorldRemit shows that people in Canada spend the most on Christmas among all countries presented on the map, with $1,717 spent on average per household. Germany falls second with $1,653, followed by Australia with $1,188. What’s even more interesting is that households in Mexico ($1,055) and France ($1,142) spent almost as much on Christmas as American households ($1,205).[2]✓
✓ Trusted source
WorldRemit is an online money transfer service allowing customers to send money using a variety of payment methods to relatives and friends
