By Deb Risden
The National Retail Federation is estimating the average holiday spending spree per person will be about $902 in 2024, up from $875 in 2023. The NRF’s figures include Christmas, Hanukkah and Kwanzaa. Sales have increased an average of about 4% annually for the past 18 years. The NRF reports some extremes, e.g., a decrease of 4.7% in 2008 and an increase of 13.5% in 2021.
According to an October Gallup poll, Americans estimate they will spend $1,014 this year. In 2023, the poll reported an estimate of $923.
Gift-giving, a longstanding tradition for many, has changed over the years, from a piece of fruit or fruitcake to homemade crafts — and fast forward to manufactured toys, clothing and household items.
History.com breaks down the top 10 toys and honorable mentions (noted in parentheses) for each decade starting in 1910:
- 1910s — The teddy bear (erector sets, Lionel trains)
- 1920s — Yo-Yo (Tinker Toys, Raggedy Ann)
- 1930s — Shirley Temple doll (Monopoly game, Red Ryder BB gun)
- 1940s — Slinky (LEGOs, Silly Putty)
- 1950s — Mr. Potato Head (Hula Hoop, Barbie, Play-Doh, Tonka trucks)
- 1960s — G.I. Joe action figure (Etch-a-Sketch, Easy Bake Oven, Playmobil)
- 1970s — Star Wars action figures (NERF ball, Speak and Spell)
- 1980s — Cabbage Patch Kids (Rubik’s Cube, Transformers, Koosh ball, Teddy Ruxpin)
- 1990s — Beanie Babies and Tickle Me Elmo (Furby, Nintendo Game Boy)
- 2000s — Wii (Razor Scooter, Bratz dolls, Webkinz, Zhu Zhu Pets)
OldWorldChristmas.com reports that starting in 2010, gifts for children became more expensive with children asking for iPods, iPhones and iPads, along with handheld gaming devices.
The NRF reports 36% of holiday shoppers will be purchasing toys, and their November survey indicated the following trends in 2024:
“For adults shopping for children this year, the top five toys for boys include Legos, Hot Wheels, cars, video games and PlayStation. For girls, the top five toys include Barbie, dolls, Legos, makeup and beauty and Disney items. TV shows and movies continue to influence top toys, with characters such as Spider-Man and Barbie remaining popular among children, along with Disney items returning to the top five toys for girls.”
In spending other than toys, the NRF reports 54% will be spent on clothing or accessories, 44% on gift cards, 31% on books, video games and other media, 30% on food and candy, 28% on personal care or beauty items, 23% on electronics, 20% on jewelry, 19% on home décor or furnishings and 17% on sporting goods or leisure items.
If all that spending feels like a bit much, the NRF survey indicates 66% of people are planning to give back to charity with monetary or other donations.
