Christmas is a time to join family and friends, celebrate traditions, and embrace the joy of gift-giving. To add to the Christmas spirit, festive decorations create a warm, celebratory atmosphere. For 2024, it is expected that 8 out of every 10 people will be celebrating the holiday, driving a large rise in spending in the economy. Christmas is known for being a large economic stimulus for nations around the world since the holiday causes sales to increase immensely. This year, it is predicted that over $973 billion will be spent on Christmas and celebrating in the US alone.
When it comes to gifts, clothing remains the most popular choice to buy and give. For a singular Christmas-time consumer in the US, they spend on average about $1,014, which is used on presents and decorations. Apart from gifts, decorations play a huge role in holiday sales and the seasonal economy. On Christmas trees alone, people spend an average of $50 to $75, yet, only about 26% of people buy a real Christmas tree. Creating a festive home environment is important to those who celebrate the holidays, so it is no surprise that an average of 42% of people spend over $150 on decorations.
Christmas is a special time of year not only for the joy it brings to family and friends but also for the economic impact it has. Every year when the holiday season comes, it highlights the importance of Christmas shaping consumer behavior, creating tradition, and supporting economies globally. Through thoughtful gifts and vibrant decorations, celebrating the holiday season with loved ones allows Christmas to be a cherished and joyful time of year for all!
Sources:
https://www.statista.com/topics/991/us-christmas-season/#statisticChapter
