How do different demographics spend during the holidays?

How do different demographics spend during the holidays?

Holiday spending varies significantly by demographics such as age, income, and location. For instance, younger consumers tend to spend more on experiences, while older demographics might focus on gifts.

Can you provide specific statistics on spending by age group?

Sure! For example, millennials typically spend around $600 on holiday gifts, while Gen X spends about $800. Baby boomers often spend even more, averaging $1,000.

What about spending differences between urban and rural areas?

Urban areas generally see higher holiday spending due to greater access to retail options and experiences. Rural areas may focus more on local shopping and community events.

Are there any trends in holiday spending this year compared to last year?

Yes, this year, many consumers are prioritizing online shopping and experiences over physical gifts, reflecting a shift in consumer behavior.