Holiday Shoppers Signal Return to Normalcy: 4% Spending Increase, Early-Bird Trend, and Resilience Amid Economic Challenges


As shoppers embark on this holiday season, consumer spending reflects a return to normalcy, with a notable yet moderate 4% increase over the previous year. The surge witnessed during the pandemic-induced spree has given way to a more measured growth rate. The National Retail Federation’s projection places holiday spending just shy of the trillion-dollar mark, underlining the robust nature of spender’s resilience in the face of challenges.

Despite inflationary pressures, soaring gas prices, and heightened interest rates, the chief economist for the National Retail Federation emphasizes that consumers remain firmly in the driver’s seat. NRF President and CEO Matthew Shay says “Overall household finances remain in good shape and will continue to support the consumer’s ability to spend.”

This season has an evident early-bird trend, with 43% of shoppers starting holiday shopping before November. The average dollar amount forecasters expect shoppers to spend this year is $827 to be spent on core holiday items, spanning gifts, decor, and food.

This festive season not only signifies a celebration of tradition but also serves as a testament to the adaptability of the modern consumer in the face of economic uncertainties.


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