Consumer spending in the United States during the holiday season is projected to hit record levels this year, according to recent forecasts shared by Rough & Polished.
The report indicates that the National Retail Federation (NRF) anticipates average consumer spending to reach $902 per person, marking a $25 increase from last year. Additionally, about half of surveyed consumers plan to begin their holiday shopping before November.
Online shopping continues to dominate, with 57% of consumers intending to purchase gifts online. According to the report, preferred gift choices include gift cards (53%), clothing and accessories, including jewelry (49%), books and other media (28%), and personal care or beauty items (25%).
Consulting firm Bain & Co. projects that sales from Black Friday through Cyber Monday will reach unprecedented highs, as these dates typically generate peak holiday spending. This four-day period is expected to account for approximately 8% of total holiday sales, the highest share recorded since 2019.
The forecasts also suggest a 5% increase in online shopping, while spending on clothing and accessories, including jewelry, is expected to see moderate growth, ranging from 1% to 5%.
