Americans spend over 700 USD with Christmas

Friday, 21 October 2011
The average spend is forecast to be $14 less than last year, what makes of the individual Christmas budget some expenditure about $704.18 per person. Therefore, festive season consumer spending will decrease, according to the NRF's 2011 Holiday Consumer Intentions and Actions Survey.

"It's easy for consumers to set a budget when it comes to gift-giving," said to Bizreport Kathy Grannis, director of media relations at the NRF. "But the hard part is passing up a discounted item you're in need of. The holiday season is the best time to buy what you need because of the expected deals."

The average shopper will spend around 36% of their holiday budget online rising to 43.7% among 25 - 34 year olds, says the NRF. Over half of smartphone owners will use their device to aid gift shopping. Around a third (31%) will use their smartphone to research and compare prices while 14.1% will make purchases from their device.

However, "Mobile and online shopping provide a completely different level of convenience for holiday shoppers," said Grannis. "For some it's a great way to not only comparison shop and find the best deal, but it's a great way to keep a set budget."

Tablet owners are more likely to use their device to help out during the holiday shopping frenzy. Nearly three-quarters (71%) plan to research and shop using their tablet. Over half will use their device to research and compare prices and 34.8% intend to purchase a gift using their tablet
The last few months have been tough on the pockets of consumers and no-one is expecting a significant rise in consumer spending this festive season. The National Retail Federation has revised holiday retail sales forecasts to show a decrease in spend compared to last year. 

An earlier report by the NRF forecast a 2.8% rise in holiday retail sales compared with 2010. That rise, explained Grannis, would still be experienced because consumers also plan to bag themselves a bargain or two while holiday promotions are in full swing.

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