According to research by the National Retail Federation and Prosper Insights & Analytics, U.S. consumers are expected to spend an average $136.57, down from last year’s record-high $146.84. Total spending is expected to reach $18.2 billion, down from $19.7 billion last year, which was also a record.
This year’s survey found consumers plan to spend an average $85.21 on their significant other/spouse, $26.59 on other family members such as children or parents, $6.56 on children’s classmates/teachers, $6.51 on friends, $4.27 on co-workers, and $4.44 on pets.
Consumers plan to spend $4.3 billion on jewelry (given by 19% of shoppers), $3.8 billion on an evening out (37%), $2 billion on flowers (35%), $1.9 billion on clothing (19%), $1.7 billion on candy (50%), $1.4 billion on gift cards/gift certificates (16%) and $1 billion on greeting cards (47%).
Also popular this year are “gifts of experience” such as tickets to a concert or sporting event, a gym membership or an outdoor adventure. While 40% of consumers want an experience gift, only 24% plan to give one.
Consumers plan to shop at department stores (35%), discount stores (32%), online (27%), specialty stores (18%), florists (18%), and local small businesses (15%).