More than one-third of Americans plan to spend at least $1,000 on holiday shopping this year, a significant increase from recent years and the highest share in at least 15 years, according to the CNBC All-America Economic Survey released Sunday, a sign of widening prosperity among U.S. households.
The survey, conducted Dec. 4-8 among 1,000 adults nationwide, found 36 percent of respondents plan to spend $1,000 or more on holiday gifts, up from 29 percent last year and 32 percent in 2022. The figure represents a substantial shift from the early 2010s, when only about one-in-four Americans planned to spend at that level.
Overall, Americans plan to spend an average of $1,016 on holiday shopping, essentially flat with last year’s $1,014. Among those planning to spend at least something on gifts, the mean rises to $1,199, up from $1,154 in 2024.
The distribution of holiday spending has remained relatively stable in the middle and lower ranges. About 22 percent plan to spend less than $200, consistent with historical patterns, while 20 percent plan to spend $200-$499 and 19 percent plan $500-$999.
The numbers suggest an expansion of prosperity. The share of Americans with the capacity and willingness to spend significantly on holiday gifts has grown meaningfully this year.
The increase in high-end holiday spending comes as 60 percent of Americans report having money invested in the stock market, including retirement accounts, near historic highs for the survey. The correlation suggests wealth effects from strong equity performance may be supporting discretionary spending for a broader share of households than in previous decades.
The spending plans stand in notable contrast to Americans’ stated views on the economy. Some 76 percent rate current economic conditions as only fair or poor, and 61% say their family income is falling behind the cost of living. Yet only 41 percent report planning to spend less on holiday shopping than last year, while 42 percent plan to spend about the same amount. Sixteen percent plan to spend more, slightly above the historical average.
The survey found Americans notably certain about their holiday budgets, with only 4 percent reporting they were unsure of planned spending levels—among the lowest uncertainty rates in the survey’s history. This suggests consumers are feeling more confident about their plans this year than in prior years.
Holiday spending plans showed minimal variation by political affiliation. Among registered voters, 37 percent of Democrats and 39 percent of Republicans plan to spend $1,000 or more, within the survey’s margin of error.
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