Learn
Learn
Close

They Ask, You Answer

A revolutionary approach to inbound sales, content marketing, and today’s digital consumer.

Learn MoreLearn More

Free Courses in IMPACT+

Dozens of sales, marketing, and content courses inside IMPACT+. Start learning now.

See all coursesSee all courses
Events
Events
Close
IMPACT+ Membership
IMPACT+ Membership
Close
Coaching & Implementation Services
Coaching & Implementation Services
Close

Services Overview

See how you can dramatically increase your inbound leads and sales.

Services Overview

Digital Sales and Marketing Mastery

Fast track your team’s success with IMPACT's most popular service.

Digital Sales and Marketing Mastery

Web Design

Launch a beautiful website that consistently generates leads and revenue.

Web Design

Virtual Sales Training

Equip your sales team with comprehensive training designed to help them close more deals in today's virtual-first world.

Virtual Sales Training

HubSpot Training & Implementation

Train your company to take ownership of HubSpot and get the most out of your investment.

HubSpot Training & Implementation

Case Studies

See dozens of examples of companies succeeding with Digital Sales and Marketing Mastery and They Ask, You Answer.

Case Studies
Become a Coach
Become a Coach
Close

‘Tis the season: A look at consumer spending habits this holiday season  [Infographic]

‘Tis the season: A look at consumer spending habits this holiday season  [Infographic] Blog Feature

Shandia Drummond-Butt

Account Receivables Manager, 5+ Years of Client Success and Project Management

December 22nd, 2019 min read

How many of you are just plain over this holiday season? 

The long lines, the waiting for packages to arrive, the last minute gift search. 

Ugh, why does it feel like we’re busier than ever this year?

Well, according to a report by Andre Lipsman of eMarketer it’s a mix between a shortened shopping timeline and general economic uncertainty: 

"Holiday spending growth will be driven by a consumer economy that remains robust, due to low unemployment, rising wages, a strong stock market, and healthy consumer confidence. At the same time, rising tariffs and trade war tensions, stock market volatility, and dampening consumer sentiment all weigh on the season’s growth potential — while the shortened calendar between Thanksgiving and Christmas presents an additional challenge."

But even with that looming uncertainty, it seems that the holiday forecast still shows  that "US [holiday] retail sales will climb 3.8% to $1.008 trillion, making it the first-ever trillion-dollar holiday season, while US retail e-commerce spending will rise 13.2% to $135.35 billion."

Let's dig deep into the spending trends on overall holiday spend and the generational differences in spending, with this infographic by Creditful.

'Tis the season for spending

What are we spending on?

Between gifts, holiday parties, and decorations, holidays in the US seem to be getting more and more extravagant. 

The report predicts that the average spend per person for the holidays will be around $1,193, including gifts, travel, food, beverages, and decorations.

According to the report, gifts accounted for the largest portion, averaging $536 per person. 

Much of this retail shopping is driven by seasonal events like Black Friday, Cyber Monday, and Super Saturday— the last Saturday before Christmas. Targeting last-minute shoppers, the day is filled with one-day and last-minute sales.

The next highest expense was travel, averaging $350 per person for the holiday season. 

According to Janeen Christoff of TravelPulse: 

"67% of Americans plan to use vacation days and/or paid time off to hit the road this holiday season. Nearly a quarter of these people (24%) are planning to travel for longer than six days."

Also, " The Travel Channel research showed that nearly one-third (28%) are planning to spend in excess of $500 on the trip. "

With these two areas representing the highest spend, the infographic goes a step further and shows the generational breakdown of the holiday spend. 

Generational spend

Baby Boomers are the largest consumer generation behind millennials, making them an important generation to look out for. 

However, according to Creditful’s  infographic, Boomers will spend about an average of $573 on gifts this holiday season, more than Millennials, who spend less than an average of $491. 

This may be due to the fact that Boomers are have a retirement savings, while Millennials may still be getting their footing in their careers.

In the report, Generation X came in as the highest spenders, paying out an average of $622 on gifts alone. 

This may have something to do with the fact that Gen X, born between 1961 and 1981, places many at an age range that is typical for parents and new grandparents and since many have not reached retirement age as of yet, they are capable of spending more than younger  Millennials and Gen Z.

They are also the most likely generation to buy clothing/accessories (68%) and entertainment items (44%), and most likely to shop mass merchants (51%). About one-fifth start shopping on Black Friday, according to a Fox Business report.

Millennials are more about the deals and the gadgets this season as well as getting more value for their money. 

According to The NPD Group's report on Generational spending habits

"Consumers in this generation plan to spend less than their older counterparts (Gen X and Boomers) but one-third plan to spend more than they did in 2018....

The vast majority will shop online, but they are also more likely than all other generations to buy electronics (46%) and shop Dollar Stores (19%)."

Being born in the Millennial generation, I can absolutely attest to the fact that this was my exact spending habit this season. Hey now, the dollar store has great deals!

Happy holidays!

As much as spending around the holiday season is amazing, it certainly is stressful for consumers and businesses alike. 

For the consumers, stress means last-minute running around, endless online shopping, the wait for packages, and keeping up with all the sales. For businesses, it means making sure their campaigns run smoothly and are successful. 

But regardless of what end you’re on, let us not forget the true meaning of this holiday season: It's better to give than to receive. So give the gift of love, joy, hope, and peace for all humanity. 

Happy holidays! 

Check out the full  infographic below to show you a clear breakdown of the spending habits for the 2019 holiday season! 

holiday-spending-infographic0

holiday-spending-infographic

 

Want to learn more about digital sales and marketing?

Master digital sales and marketing when you join IMPACT+ for FREE. Gain instant access to exclusive courses and keynotes taught by Marcus Sheridan, Brian Halligan, Liz Moorehead, Ann Handley, David Cancel, Carina Duffy, Zach Basner, and more.

Sign up for free
Take a peek

Access hundreds of FREE courses and keynotes

Free Course
Digital Sales & Marketing Framework for Today’s Buyers
By: Marcus Sheridan
View Course Preview View Course Preview
Free Keynote
A New Way to Compete & Win
By: Brian Halligan
View Course Preview View Course Preview
Free Virtual Keynote
How To Genuinely Feel Confident, Be Likable, And Build Trust On Camera
By: Liz Moorehead
View Course Preview View Course Preview
Free Keynote
The Future of Marketing is Conversational​
By: David Cancel
View Course Preview View Course Preview
Free Deep Dive
HubSpot On a Budget: Getting Started with HubSpot Starter Hubs
By: Courtney Caldwell
View Course Preview View Course Preview
Free Course
Assignment Selling: Content is Your Greatest Sales Tool
By: Marcus Sheridan
View Course Preview View Course Preview
Free Keynote
The Big, Bold, Brave New World of Marketing​
By: Ann Handley
View Course Preview View Course Preview
Free Course
Investing in Incredible Digital Sales and Marketing Results
By: Chris Duprey
View Course Preview View Course Preview
Free Course
How To Show Your Content Makes Money With HubSpot Marketing and Sales Hubs
By: Liz Moorehead
View Course Preview View Course Preview
Free Virtual Keynote
The Visual Sale
By: Marcus Sheridan & Tyler Lessard
View Course Preview View Course Preview
Free Keynote
Marketing Tech: What’s Now, What’s Near and What’s Not Anytime Soon?​
By: Dharmesh Shah
View Course Preview View Course Preview
Free Course
Inbound Lead Generation & Conversion Optimization
By: Carina Duffy
View Course Preview View Course Preview
Free Virtual Keynote
Fundamentals of Videography: You Can Be a Great Videographer Too
By: Zach Basner
View Course Preview View Course Preview
Free Deep Dive
The Ultimate Customer Service Toolkit for Any Budget
By: Andriti Gulati
View Course Preview View Course Preview
Free Course
6 Topics Subject Matter Experts Need to Address
By: Kevin Phillips
View Course Preview View Course Preview
Free Keynote
Fanocracy: The Power of Making Business Personal​
By: David Meerman Scott
View Course Preview View Course Preview
Free Keynote
The Power of Pillar Content
By: Liz Moorehead
View Course Preview View Course Preview
Free Keynote
SEO for the Future
By: Franco Valentino
View Course Preview View Course Preview
Free Course
Fundamentals of Social Media Marketing
By: Stephanie Baiocchi
View Course Preview View Course Preview
Free Deep Dive
A Practical Guide To Video Graphics
By: Colton Trcic
View Course Preview View Course Preview
Free Session
How To Get Your Community To Know, Like, And Trust You With Video
By: Marki Lemons Rhyal
View Course Preview View Course Preview
Free Course
Video Sales and Marketing Strategy
By: Zach Basner
View Course Preview View Course Preview
Here Are Some Related Articles You May Find Interesting

Want to Contribute Content to impactplus.com? Click Here.

IMPACT+ Sign Up
A FREE online learning community with on-demand courses, hundreds of expert-led sessions, thousands of your peers ready to support you, and much more.
Check it out
Hundreds of courses and recorded keynotes, completely FREE
Check it out
Access hundreds of digital sales and marketing courses and recorded keynotes, completely FREE