Americans are expected to open their wallets this holiday season, increasing their gift budgets even as a slowing job market and stubborn inflation weigh on consumer confidence, according to a new analysis from Visa Business and Economic Insights. U.S. consumers are forecast to spend an average of $736 each on holiday gifts, a 10% increase from the $669 reported last year, Visa said in its 2025 holiday spending outlook.
Main Idea: Americans are expected to spend more on holiday gifts this year even though many still feel bad about the economy.
Key Points:
Higher holiday prices and weak job growth may force low- and middle-income households to cut back on essentials or take on more debt.
Strong holiday spending can help retailers, workers, and local businesses bring in more sales and pay.
Rate how each entity in this article affected the American people.
No entity suggestions or linked entities saved yet.
Named Visa economist quoted to explain the spending-confidence disconnect.
Government source for retail sales data used in Visa’s projections.
Named forecast source mentioned alongside other holiday spending outlooks.
Named polling organization cited as another source of holiday outlook forecasts.
Comments here are the same thread shown when this article appears in The Pulse.
No comments on this article yet.
Sign in to comment