Families with kids plan to go big with a $1,306 celebration, while households with no kids will spend around $835 on gifts
Looks like Americans are unleashing their inner Santa this year as they plan to shell out an average of $975 on holiday gifts, per a recent Gallup poll.
It is a cheerful leap of over $100 from last year and marks the jolliest spending spirit since 1999.
Families with kids plan to go big with a $1,306 celebration, while households with no kids will spend around $835.
So, hold onto your hats for a wild December retail frenzy.
What to expect
Roughly 49% of the shoppers will do their holiday shopping this month, and more than half of them—roughly 56%—prefer shopping in stores rather than online.
It means peak sales are expected just a week before Christmas hits.
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Super Saturday (December 23) and the third Saturday of this month (December 16) are predicted to be the busiest shopping days after Black Friday, according to Sensormatic Solutions.
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Other top days include December 9, 22 and 26.
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Retailers like Target and Kohl’s are extending store hours during the final weeks of the shopping season, with some open from 7 a.m. to midnight.
It is advised to check store locators for specific hours before planning late-night shopping trips.
Usually, holiday budgets shrink as December rolls in, but not this time. After the record-breaking Black Friday and Cyber Monday sales, shoppers are all fired up. Retailers are jazzed up, expecting a sales boost between 6% and 9%.