2022 U.S. Holiday Spending Outlook

U.S. holiday spending is expected to grow 6.7 percent year-over-year (YoY).
2022 holiday spending outlook chart. See image description for more details.
A bar chart showing year-over-year growth in holiday spending from 2.3% in 2016, 5.9% in 2017, 2.6% in 2018, 3.8% in 2019, 9.9% in 2020, 12.9% in 2021 and 6.7% in 2022.
Misery index line chart. See image description for more details.
Line chart showing the misery index from January 2020 to September 2022, ranging from a low of 5.8 in February 2020 to a high of 12.2 in March 2022. The Misery index was 6.0 in January 2020, increased to 15.1 by April 2020, and declined to 7.8 in January 2021. It then increased to 12.2 by March 2022 before falling to 11.8 in September 2022.
Consumer spending categories bar chart. See image description for more details.
Horizontal bar chart showing year-over-year percent changes in the consumer price index (CPI) for selected goods and services. All data are as of September 2022. The CPI increased by 18.2 percent for gas, 15.7 percent for cookies, 15.2 percent of milk, 10.8 percent for all food and beverages, 10.4 percent for gist wrap, 8.2 percent for the headline CPI, 8.0 percent for housing, 5.5 percent for apparel, and 4.2 percent for toys.
2022 average spend on gifts bar chart. See image description for more details.
A bar chart showing the average amount that consumers planned to spend on holiday gifts increasing from $575.80 in 2019, to $587.70 in 2020, $673.40 in 2021 and down to $613.00 in 2022.
Online shopping bar chart. See image description for more details.
Horizontal bar chart showing the share of consumers who plan to do most of their holiday shopping online. This share was 49 percent in 2019, 61 percent in 2020, 59 percent in 2021, and 53 percent in 2022.
Holiday spending by income. See image description for more details.
Bar chart showing the year-over-year percent change in planned holiday spending by income in 2022. Planned spending has decreased by 17 percent for consumers with incomes below $50,000, 9 percent for consumers with incomes between $50,000 and $99,999, and 3 percent for consumers with incomes of $100k and up.