Nearly 12% Of Households Don't Plan To Buy Holiday Gifts, Wealthy Celebrate With 30% More Spending
Subscribe to http://youtube.com/c/growathome
follow our backup channel
http://bit.ly/odyseesru
http://silverreportuncut.com
Subscribe to the SRU podcast
http://soundcloud.com/silverreport
http://silverreportuncut.podbean.com
Follow Us On Telegram http://t.me/silverreport & https://parler.com/profile/silverreport/posts
anyone can post on our public group http://t.me/silverreportforum
Ad revenue is down almost 70%, it's viewers like you who help keep the sru coming! you can donate via crypto at our website or consider supporting our work on
http://buymeacoffee.com/silverreport
https://www.patreon.com/silverreport
Supply chain and inflation challenges may dampen seasonal cheer for some consumers, according to a report from Deloitte. The study forecast that, amid waning anxiety and stabilizing consumer sentiment, holiday spending will average $1,463 per household, up 5% from 2020 —with higher-income shoppers driving nearly all gains.
Higher-income households are planning to spend five times that of lower-income households, the study found. Higher-income shoppers expect to spend 15% more than last year (averaging $2,624 per household). But lower-income groups plan to spend 22% less (averaging $536 per household).
In addition, the percentage of overall consumers who do not plan to spend at all this season is 11.5%, more than doubling from 2020 (4.9%). Two-thirds of this non-spender group (65%) are from lower-income households compared to 12% from higher-income households.
Deloitte noted that some pre-crisis behaviors are returning, such as experiences including socializing away from home, travel and entertaining at home. Overall spending is expected to increase 15% year-over-year, to $536 per household, accounting for more than one-third of holiday spending.
Other highlights from the Deloitte survey are below.
Consumers are more worried about inflation than retailers. More than two-thirds of consumers (68%) expect product prices to increase this holiday season compared to 53% of retail executives.
Seven in 10 consumers (68%) expect higher prices this season compared to five in 10 retail executives. Lower-income shoppers expect to spend less based on inflation expectations, according to Deloitte.
Optimism among retail executives is strong, as seven in 10 expect consumers to spend more year over year. However, six in 10 retail executives are worried about receiving their holiday orders in time.
Three out of four consumers (75%) are concerned about stockouts, motivating consumers to begin their shopping earlier this year.
Overall spending will increase across categories with 45% of households planning to spend the same or more on the holidays.
Spending on gifts is forecast to be $501 per household, an increase of 3% since 2020, while non-gifts purchases will total $426 per household.
Retailers are placing orders with confidence that consumers will be spending, as 33% of retail executives stated that holiday order volumes grew by double digits year-over-year.
-
9:39
SRU
1 year ago $0.01 earnedFuel Prices Soar To Record High! Heating Fuel To Devastate America, Natural Gas Prices To Soar 32%
191 -
LIVE
RealAmericasVoice
30 minutes agoNEXT MAN UP: STEVE BANNON, CHARLIE KIRK, AND JACK POSOBIEC
4,273 watching -
LIVE
The Late Kick with Josh Pate
3 hours agoLate Kick Live Ep 526: FSU’s ACC Exit | SEC vs Texas & OU | Lanning Is Kirby | EASports CFB25
136 watching -
LIVE
Due Dissidence
6 hours agoLiberals' Post-Debate MELTDOWN CONTINUES, Russ Interviews 'Pod Save America' Fans in NYC
2,366 watching -
27:33
Texas Strong
2 days agoThe Texas Revolution - Episode 01 - 06-28-24
241 -
LIVE
Vigilant News Network
5 hours agoMedia Blackout: 10 News Stories They Chose Not to Tell You - Episode 29
2,017 watching -
LIVE
Major League Fishing
4 days agoLIVE Bass Pro Tour: Stage 6, Day 4
409 watching -
43:19
Stephen Gardner
4 hours ago🔴BREAKING: Biden is a TRAIN WRECK! Obama WANTS him GONE!!
30.9K99 -
LIVE
FusedAegisTV
8 hours agoDid I Crash Servers?! Wonderous Tails XP Farming | Final Fantasy XIV 7.0 Early Access Day 3
3,518 watching -
1:43:48
Bright Insight
1 day agoWhat You Must Know about Graham Hancock/Flint Dibble Debate (w/ @DeDunking)
111K86