Consumer Behavior

Consumers spending big this holiday season

Photo by istock.com

November 9, 2021

If one industry prediction proves true, consumers will be back to holiday spending per 2019 activity as this year's holiday spend is projected to spike 15% compared to 2020.

Shoppers are expected to spend an average of $1,463 per household, up 5% from last year, according to Deloitte's 36th annual Holiday Retail Survey.

The survey polled 4,315 U.S. consumers to determine what can be expected as they tackle holiday shopping during a second season impacted by COVID-19, according to a press release on the findings.

A good majority, 75%, of consumers are concerned about stockouts, and that is motivating shoppers to begin shopping earlier this year. Meanwhile, six in 10 retail executives are worried they may not receive their holiday orders in time, according to the report.

Consumers are also expecting higher prices but feeling more confident, with just 40% anxious about in-store shopping given the ongoing pandemic.