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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.