50+ Holiday Spending Statistics And Shopping Predictions (2020-2023)

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Holiday spending is a significant component of annual retail sales, with expectations for the 2023 holiday season projecting a 4.5% increase in overall retail spending.

Additionally, online holiday sales are anticipated to see substantial growth, reaching a global total of $1.19 trillion by 2023.

To provide a snapshot of consumer behavior during this festive period, I’d like to share the most important holiday spending statistics that are crucial to note immediately. 🎁💳

To find specific year statistics and facts: 2023, 2022, 2021, 2020.

2023 Holiday Spending Predictions

For the 2023 holiday season, overall retail spending will rise 4.5%.
Global online holiday sales are expected to reach $1.19 trillion in 2023.
According to Numerator’s research, consumers plan to spend $100 or more during the holiday season.
This holiday season, 67% of retailers expect customers to look for deals.
17% of shoppers say they have already used generative AI to get ideas for purchases.
88% of retailers say they will tighten their return policies in preparation for the holidays, which poses a risk.
In 2023, global online holiday sales will be around $1.2 trillion.
US holiday sales will grow 1% YoY to $273 billion.
AI will drive $194 billion in online holiday sales.
Overall global retail spending will rise 4.5% to $1.3 trillion for the 2023 holiday season.
Holiday shopping can account for up to 30 percent of a retailer’s annual sales.

Source: (Martech, Salesforce, Salesforce, eMarketer)

To learn more about consumer spending behavior, we would suggest reading our consumer spending statistics resource page to learn more about how consumers spend their money.

2022 Holiday Spending Statistics

Holiday spending in 2022 went up quite a bit, showing people were definitely in the mood to splurge. Here’s a quick look at the highlights:

In 2022, holiday spending increased by nearly 7% annually.
In 2022, holiday retail sales in the United States were $936,3 billion, a 5.3% increase from 2021.
In 2022, the typical American holiday shopper spent $1,455 dollars.
During the 2022 holiday season, consumers spent $211.7 billion online.
63.1% of U.S. consumers have holiday spending budgets for 2022.
The majority of retailers provided double-digit discounts of up to 34%.
Consumers spent $211.7 billion online over the 2022 holiday season , an increase of 3.5% year over year.
According to a 2022 survey, 57% of U.S. consumers planned to shop online during the holiday season.
In the last decade, holiday retail sales have increased by 4.9% on average year over year.
In 2022, the average discount rate for holiday shopping in the U.S. was 23%, up 10% from the previous year.
Holiday shopping can account for up to 30 percent of a retailer’s annual sales.
The NRF says that holiday sales in 2022 went up by 5.3% to $936,3 billion.
49% of holiday shoppers will do more online shipping so they can ship directly to family and friends in 2021.
Shoppers spent 8.4% more on Thanksgiving, 6.9% more on Black Friday and Cyber Week, and 6.5% more on Christmas.
Overall, consumers plan to spend an average of $1,430 on gifts, travel and entertainment this year.
74% of consumers plan to spend the same or more on holiday gifts this year compared to last year.
47% of consumers cited free shipping as something that would influence where they shop for holiday gifts in 2021.

Sources: ( Statista, Retail Drive, NRF, The NPD Group / Annual Holiday Study 2021, NRF, MentalFloss, PWC, PWC, NPD 2021)

2021 Holiday Spending Statistics

Holiday spending hit new levels in 2021, with a major boost in spending all around. Here’s a quick rundown of the numbers:

In 2021, holiday spending grew by approximately 13.5% annually.
In 2021, holiday retail sales in the United States reached an all-time high of $889.30 billion.
The average holiday shopper in the United States spent $1,463 in 2021.
In 2021, the cost of Christmas shopping averaged $998 per person in the United States.
In 2021, consumers spent $33.9 billion from Thanksgiving to Cyber Monday.
Global Holiday sales reached $886.7 billion in 2021.
The 2021 holiday season saw a 16.1% increase in US retail sales.
Shoppers spent $579 on holiday-related items in 2021, up from $457 in 2020
U.S. consumers spent a record $204 billion online this holiday season.
In 2021, consumers spent $33.9 billion between Thanksgiving and Cyber Monday, a 1.4% decrease year on year.

Source: (NRF, eMarketer, Business Wire, Adobe, Deloitte)

2020 Holiday Spending Statistics

In 2020, November-December holiday season retail sales increased an unexpectedly high 8.3 percent over 2019.
40% of adults in the United States will spend less during the holiday season this year.
Americans spent $777.35 billion on holiday-related items in 2020.
In 2020, average holiday expenditures decreased to $1,387.
The total amount spent on holiday shopping online in the US in 2020 was $188.2 billion, up 32.2% from 2019.

Sources: (Insider Intelligence, Sales Force, Numerator, Retail Dive, NRF, Brand Innovators.)

Holiday Spending by Income Level

Holiday spending changes a lot depending on how much people make, with higher earners spending more on gifts, decorations, and total holiday costs. Check out the details below:

People with a household income of less than $50,000 spend $157 on holiday decorations, $339 on gifts, and $382 overall.
Individuals earning $50K–$100K spend $181 on decor, $618 on gifts, and $683 on holidays.
$100K-$200K earners spend $236 on decor, $823 on gifts, and $977 on holidays.
Over $200K earners spend $642 on decor, $967 on gifts, and $1,343 on holidays.
Higher-income groups spend more on gifts and holidays than lower-income groups.

Source: Rocket Money Research

Holiday Spending Differences: With vs. Without Family

How we spend during the holidays changes a lot depending on if we’re with family or not. Here’s a look at how spending on decorations, gifts, and overall expenses differs:

People who spend holidays with their families spend $344 on decor, a 43.8% increase over those who do not.
The gift budget with family is $787, up 29.5% from $555 without family.
Overall holiday spending with family is $999, up 34.8% from $652 without family.
Those without family spend $193 on decorations, $555 on gifts, and $652 overall.
Those with family spend $344 on decorations, $787 on gifts, and $999 overall.

Source: Rocket Money Research