Consumers are planning higher holiday spending than some studies have indicated.
According to Aki Technologies, the media division of Inmar Intelligence, 47% of consumers expect to shell out more than $500 on holiday gifts this year.
At the same time, there has been a 41% hike YoY in the number of people who want to receive cash or gift cards.
Shoppers are planning to buy gifts for:
- My family — 66.3%
- My partner/spouse — 52.2%
- Children — 48.8%
- Myself — 45.2%
- Friends –37.3%
- My partner’s family — 21.2.%