Thinknow: 2023 Holiday Spending Report

Two-fifths of consumers said they start shopping before Black Friday and spread their purchases throughout the holiday season, while less than 20% said they don’t plan to buy any gifts this season.

About a quarter of holiday shoppers plan to spend more on Christmas gifts this year than they did last year. The same percentage plan to spend less this year.

This year holiday shoppers plan to spend an average of $433 on gifts. That’s significantly lower than in 2018, when they spent $506.

Consumers are most likely to get holiday shopping ideas from family and friends, followed by in-store display promotions.

More than half of consumers plan to do their holiday shopping through online retailers such as Amazon, eBay and Temu. Three-quarters of holiday shoppers plan to make online purchases via smartphone.

Apparel, gift cards and toys/games are top gift purchases this holiday season.

More than 40% of Hispanics celebrate the Feast of the Three Saints. This is most common among foreign-born and Spanish-speaking Hispanics.

Three in ten consumers start their shopping on Black Friday/Cyber ​​Monday, with Asians being the most likely to do so.

Consumers who expect to spend less on holiday gifts this year say it's because they have less disposable income.

More than half of respondents plan to do their holiday shopping at online retailers, with Asians being most likely.

This year, nearly two-thirds of holiday shoppers plan to use a credit or debit card to pay for their holiday purchases.

About 3 in 10 holiday shoppers plan to use an interest-free installment loan.

Half of consumers said they were “very” or “somewhat” concerned about shipping delays during the holiday season.

Two-thirds of consumers said they used curbside pickup or “buy online, pick up in store” during the holiday season.

Almost half of Spanish consumers celebrate the Three Saints’ Day.