30% of Americans are spending less on holiday gifts this year

Candice Jaimungal - December 21st, 2020

The financial burden of the holidays can add to the overall stress of the season – and with the coronavirus pandemic amidst, how are the wallets of Americans faring?

While half (49%) of Americans say they are in about the same place financially than they were in December 2019, 29% say they are financially worse off. Women (34%) are more likely than men (24%) to say that they are in a worse place financially than they were last holiday season.

The coronavirus pandemic may be to blame for cuts to holiday spending, with 30% of Americans saying they will spend less on gifts than last year.

Most Americans who plan on shelling out for holiday gifts expect to spend $500 or less (56%), including 31% who will spend $200 or less. Additionally, 15% of Americans say they don’t intend to purchase any gifts at all. For some Americans, holiday gift shopping is accompanied with holiday debt. One in ten say they are still paying off debt from last year's holiday gift shopping. This year, nearly a quarter (25%) of Americans say they think they will accumulate debt from purchasing holiday gifts.

Methodology: 1,200 US adults were surveyed through YouGov Direct on December 16, 2020. Data is weighted on age, gender, education level, political affiliation, and ethnicity to be nationally representative of adults in the United States.

Image: Getty

Categories

Agencies

Have Trump tariffs affected willingness to invest in the stock market?

Big chains vs local favourites: Where Britons get their fast-food fix

Two in five American employees open to virtual reality workspaces

Do working professionals prefer VR workspaces over traditional offices?

The celebs you actually remembered from Super Bowl 2025 ads

Do the British public trust search engine AI summaries?

What drives Metaverse engagement? Insights from British consumers

Metaverse in 2025 – What users want and what’s holding others back

What’s cool in 2025? Depends on who you ask

Physical health tops 2025 New Year’s resolutions for Britons

UK retail trends and insights – A comprehensive overview for 2024

US health and wellness trends - A comprehensive overview for 2024

US tech and telco – trends and insights roundup for 2024

US finance – trends and insights roundup for 2024

Health, finances and fitness: Key themes for 2025 New Year’s Resolutions

Do celebrity endorsements drive sustainable beauty purchases?

Is British Airways’ period drama safety video winning over UK consumers?

How will Spotify subscribers react to another price hike?

Three in five US consumers plan to shop during Amazon’s 10th annual Prime Day sale

Americans recognize unhealthy foods; what drives them to keep eating?

Get to know your customers using YouGov Surveys: Self-serve

CVS closures: Exploring consumer alternatives and retail pharmacy preferences

Black views on Juneteenth and brand participation

[Webinar] Unlocking survey insights: A hands-on guide to audience building

Generational wealth: US financial trend report 2024

A Cookieless World: Data Solutions for Growth

Most UK marketers not ready for a cookieless future

Welcoming all: What travel brands need to know about inclusive travelers

AI on your wrist (and everywhere else): Consumer views on AI wearables

Of deals, discounts and bargains - How aware are Brits of the ecommerce platform, Temu?

Deep-discount wonders: How aware are US shoppers of retail brand Temu?

US rural vs city representation report 2024

Brits at mealtime: A look at entertainment choices for solo vs. social dining

Nearly half of Britons typically stream content alone

Examining the awareness and impact of shrinkflation on consumer behaviors in the US

MWC 2024: What Britons think of smart rings, robot dogs – and more

Submit an inquiry

Book a demo

Call me

Business

Members

30% of Americans are spending less on holiday gifts this year