If you can’t tell it’s the winter holiday season from the festive commercials and lights, you might be able to tell by your dwindling bank account balance. Unsurprisingly, retail spending amps up in this final month of the year. Here’s the data to put it into perspective.
- Americans spent an estimated $586.98 billion on retail in December 2023, or about $1,750 per person. For comparison, people spent an estimated $532.85 billion in November that year.
- February is usually the lowest sales month of the year, with an average spending of $320 billion. Sales tend to increase incrementally towards the end of the year, rising 4.5% from September to October, 4.7% from October to November, and 18.9% from November to December.
- December spending reached a recent peak in 2021 at $593.34 billion. That was up 9.0% compared to 2020 and 1.1% higher than in 2023.
For more on this topic visit this page -> https://usafacts.org/articles/how-much-money-do-americans-spend-on-holiday-shopping-2023/?
USA Facts: USAFacts is a not-for-profit, nonpartisan civic initiative making government data easy for all https://usafacts.org/about-usafacts/
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