PRINCETON, N.J. — Americans are planning to give retailers a merry Christmas, according to a new gallup poll. U.S. adults are planning on spending an average of $830 on Christmas gifts this year, up from $720 last year. That is significantly higher than what consumers have indicated in any November since 2007.
Additonally, 30 percent of respondents said they planned to spend $1,000 or more on gifts. That was a slightly higher percentage than last year (25 percent). About 20 percent said they will spend between $500 and $999. Another 8 percent said they don’t celebrate Christmas or won’t spend on the holiday and 7 percent said they are unsure of how much they will spend.
When limited to just those planning on spending on Christmas, the average amount spent rises to $909.
Whether consumers follow through on their intentions to spend, the fact that they are in the mood to do so is a positive sign for the nation’s retailers at the end of a slow year.
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