American's Expected To Purchase Over 24 Billion On Holiday Gifts

With less than a week left until Christmas, how much of your gift buying have you finished? Between family, friends and everyone else, your list may be long, especially if you’re taking part in any gift exchanges. And a lot of folks are, new research reveals.

A survey of 2-thousand U.S. adults who celebrate Christmas finds that 84% are participating in a gift swap this holiday season, with 54% doing Secret Santa and 48% doing White Elephant. These are especially popular among younger generations, with 98% of Gen Z taking part and 72% of millennials.

According to the poll:

  • People are participating in an average of six different gift exchanges throughout the holidays.
  • They’ll spend an average of $88 on the presents for all of them.
  • More than three-quarters (77%) will spend 11 hours shopping for the right gift for the exchanges.
  • When it comes to where they shop, it’s pretty close with 80% shopping in-person and 74% shopping online.
  • Gen Z is more likely to do most of their shopping in-person (92%), compared to baby boomers who do the least in-person (70%).
  • While three in four respondents say they have a budget for gift exchanges, 87% admit they’ll spend more.
  • As for who they’re doing the gift exchanges with, 68% say extended family, 64% do them with friends and 53% with coworkers, while 12% do them with strangers met in online communities.
  • To buy all the gifts this holiday season, the survey estimates Americans will spend more than $234-billion.

Source: SWNS Digital

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