U.S. households are expected to spend an average of $471 on gifts during the holiday season, up from last year’s estimate of $449, The Conference Board reported this week.
The survey of Christmas gift spending intentions covers a nationally representative sample of 5,000 U.S. households. It was conducted during November by TNS, the world’s largest custom research company.
The top Christmas spenders will be East South Central households (Alabama, Kentucky, Mississippi, Tennessee) who intend to spend $583. The lowest Christmas spending will be in the West North Central region (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota) where consumers intend to spend $397 on Christmas gifts.
One-third of all households will spend $500 or more for Christmas gifts, with 35 percent spending $200-$500 and the remaining 31 percent planning to spend less than $200.