Holiday shoppers plan to spend more this upcoming holiday season

Holiday shoppers plan to spend $958 per person this holiday season – 22.8 percent of which will used for holiday entertainment and experiences, forecasts JLL in its recent holiday survey. While consumers stayed close to home during the pandemic, they invested heavily in goods purchases. The move toward services and entertainment since then has been steady.

Planned spending on physical goods – gifts and other holiday merchandise – is down 13.8 percent from 2022, decreasing from an average of $868 per person last year to $748 per person this year. Holiday-spending plans vary widely by income levels. Consumers earning less than $50,000 plan to spend roughly 40 percent less than the average of $958. They’ll budget notably less for gift and holiday décor, but the real difference is in how much less they will spend on experiences.

Deloitte also forecasts an increase this holid