According to the latest reports, in 2021, 29% of American consumers plan to spend more money on holiday shopping than the previous year, despite the shaky economic situation.
Based on NPD’s estimations, holiday spending will increase between 3%–5%, starting from October and ending in early January.
The data also shows us that one-third of consumers plan to buy more gifts this year since they intend to spend the holidays with their family and friends. In fact, 47% of consumers want to visit their family and friends during the holidays.
Before the COVID-19 vaccine was out, 49% of shoppers claimed they would gladly go back to indoor shopping after they get vaccinated, whereas 65% preferred to buy products from online stores.
Today, 58% of consumers feel comfortable going back to indoor shopping, and 32% are less concerned about the coronavirus than they were back in 2020 due to the availability of COVID-19 vaccines.
On top of that, many consumers plan to spend $1,000 or more on holiday gifts in 2021.
Also, according to the data, 51% of Americans want to start their holiday shopping before Thanksgiving (November 25).
Retailers expect that technology and home products will be the most sought-after goods among US shoppers. At the same time, online shopping will continue to flourish as never before.