Americans are ready to spend on holiday shopping, but expect steep discounts

Americans plan to increase their holiday spending, with the average rising to about $675 on gifts this holiday season, according to a survey provided first to Axios by The Conference Board. That is an increase from last year's estimate of $627.

Yes, but: Consumers say they are expecting steep discounts, with more than a third reporting they expect — at a minimum — to buy half of their gifts on sale.

• "Consumers will be discerning when spending," The Conference Board says in a release accompanying the data.
• "Most will expect bargains, comparison shop, and wait up to the last minute for steep discounts."

The intrigue: Consumers continue to move online for holiday purchases. The Conference's Board survey, conducted by data provider Nielsen, found that 42% of respondents expect to do at least half of their holiday shopping online. That's up from just under 37% in 2017.

Go deeper:

• U.S. delays impending China tariffs on some products until December
• Toymakers say Trump's China tariff delay "saved the holiday season"