This holiday season, consumers are expected to spend big, with budgets increasing by 31.7% compared to last year. According to a recent survey, the average person plans to spend $1,261 on gifts, food, decor, and entertainment. While gift-giving remains important, spending is shifting towards creating a festive atmosphere, with many consumers prioritizing experiences over material gifts.

Source: https://www.forbes.com/sites/naveenjaggi/2024/10/29/consumers-plan-to-spend-big-this-holiday-season/