Tuesday, December 12th, 2017

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The Zogby Poll℠: Christmas spending is up in 2017 compared to 2012

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Zogby Analytics recently conducted a nationwide hybrid (telephone and online) survey of 1,514 adults in the United States. We posed the question to respondents, "how much will you spend on Christmas gifts this year"? A majority said (54%) they will spend up to $500 on a Christmas gift this year. In 2017, almost half (47%) said they would spend $251--$1,000 on Christmas gifts. Almost a quarter of adults said they would spend $251--$500, and another quarter said they will spend $501-1,000.

Younger adults aged 18-24 (54%) were more likely than older respondents aged 70+ (40%) to spend $251--1,000 on Christmas gifts this year. Men (17%) were more likely than women (11%) to spend $1,000+ on gifts.

Respondents who identified as investor class (27%), weekly Amazon shoppers (23%) and those working in the creative job sector (STEM and service sector jobs-17%) will spend more on Christmas gifts of $1,000+, which is much higher than 14% of respondents, overall, who said the same.

To put these numbers in context, we asked the same question in October of 2012. Based on the figures from five years ago, spending is up for Christmas this year. In 2012, three in ten surveyed said they would spend $501--1000 on gifts, compared to 37% of respondents who said they would spend that same amount in 2017. Also, in 2012, 11% said they would spend $1,000+ compared to 14% in this most recent poll.

Does this mean there has been growth in the economy since the election of Donald Trump, most likely not, but it could represent an increase in confidence among consumers and some businesses since the election, which is a good thing for the economy!

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