American shoppers polled by Gallup said they plan to spend a record amount of money on Christmas gifts this holiday season, with the findings aligning with a post-election jump in consumer confidence along with a sharp decline in fears of a potential recession over the next 12 months.
The Gallup survey of U.S. consumers’ gift-buying intentions, released on Nov. 27, shows that shoppers on average plan to spend $1,012 on Christmas or holiday gifts in the 2024 season. That’s the highest reading ever, according to records that go back to 1999, up from last year’s record-setting $975.
