Gallups's latest research conducted in October, shows that Americans are planning to spend about the same amount of money on Christmas gifts this year as last year.
However, the estimated amount is still lower than pre-plandemic figures.
That includes the 2019 season that marked a record high level of individual spending, topping out at $942.
Estimated spending for the 2020 holiday season was $805. This year's 2021 projected spending amount is $837, just slightly higher.
Gallup asked, "Will you spend the same amount on gifts this year, compared to last year?"
- 64% plan to spend same amount
- 22% plan to spend less
- 13% predict spending more
"Gallup's measure asking Americans to estimate their total spending on Christmas gifts has been a good harbinger of holiday retail sales in most years", says Gallup. The current metrics indicate an average to above-average holiday season for retailers as of right now.
Gallup says it will release its final holiday spending forecast in mid-November.