Blog

Holiday Sales Could Hit $586 Billion

October 18, 2012

Holiday retail sales are expected to increase 4.1 percent to $586.1 billion, and the average holiday shopper will spend $749.51 on gifts, according to the National Retail Federation's Holiday forecast.

Holiday retail sales are expected to increase 4.1 percent to $586.1 billion, and the average holiday shopper will spend $749.51 on gifts, according to the National Retail Federation’s 2012 Holiday forecast survey.

The largest portion of shoppers’ budgets will go towards gifts for family members, with an average of $421.82 per shopper, according to the survey. Consumers also will spend $75.13 on friends, $23.48 on co-workers, and $28.13 on others, the survey found. About 52 percent of respondents said the U.S. economic climate would impact their spending plans, and about 41 percent said they will begin holiday shopping before Halloween. Finally, about 51 percent of consumers will shop online for holiday gifts and other items, up from 46 percent in 2011.

Back To Blog