Christmas Consumption

Mariah Carey sings,  “I don’t care about the presents underneath the Christmas tree” in her hit song "All I Want For Christmas Is You,” but is that really the case? 

Christmas Worldwide

Last Christmas, $936.3 billion was spent during the season of giving. There has been a significant increase in spending in the last three years. 

Since 2021, total spending has gone up $43 billion. 

This year holiday spending is estimated to reach an all-time high as inflation increases. As of 2022, the inflation rate is an even 8.00%. In the past 3 years, it has increased 6.77%. Holiday shoppers are not discouraged though as they plan to shop at the same rate.

Christmas by Country

In an odd turn of events, America is not the country that spends the most on Christmas. As of  2022, we are the 4th highest country with each American spending an average of $1,236. Canada is at the top where last Christmas, each shopper spent an average of $2,100.

Online Shipping

8 in 10 people shopping online will qualify for free shipping.

To qualify for free shipping most companies require a card of $64+.

6 in 10 people will abandon their carts once they realize shipping is not free.

Christmas Spending by Age

The age group that spends the most money on Christmas gifts is 45-54 averaging $1,161.98

At almost half, 18-24 year-olds spend almost half of that at an average of $649.81

In the age range 18-24, 80% of people buy gifts for friends. But by age 65+, this figure drops 24%.

As the amount of presents bought for friends decreases, there is a significant increase in the amount of presents bought for coworkers as people age.

Christmas by Gender

For those of you saying that women are the big spenders, on average men spend almost 10% more on Christmas shopping than women. The statistics line up in terms of what women and men spend their money on, but in past years men have spent up to $951.35 more than women.