The typical American household will spend nearly $1,500 this holiday season, with roughly three-quarters of shoppers saying they are likely to lay out the same as or more than they did last Christmas, according to a report from Deloitte.
Shoppers will increase their spending by some 4.5 to 5 percent this season, says the 2019 Deloitte Holiday Retail Survey, compiled from 4,410 respondents to a nationwide survey. High spenders — those who plan to spend upwards of $2,100 — will account for about 60 percent of the total spending during the holidays. Consumers who earn $100,000 per year or more will account for about 65 percent of total spending, and people earning between $50,000 and $99,000 yearly will be responsible for about 25 percent. Those earning less than $50,000 will generate just 10 percent of total holiday spending.
Generation X is the most lucrative cohort and will account for 35 percent of total spending, followed by baby boomers (31 percent), Millennials (27 percent), seniors (4 percent) and Gen-Z (3 percent).
By Edmund Mander