If it feels like your wallet is bleeding this time of year, you’re not imagining things. Yes, it’s the holiday season and there are gifts to be bought and parties to prep for, but according to a new survey on holiday gift spending from the savings website RetailMeNot, the average shopper will shell out more money this season than they did last year. The average amount may shock you: $482 on gifts just this season alone.
Holiday gift spending is actually up from the 2016 holiday season, and here’s how it breaks down: shoppers this year say they will spend an average of $330 to treat the kids to a happy haul, with gift spending for significant others averaging $196, $105 for parents, $90 for siblings, and a mere $57 to bestow besties everywhere with the holiday spirit.
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If that stresses you out—or perhaps it makes you feel like you feel like you could actually cut back on your spending?—when most people are doing the shopping might also give you pause. That’s because 45% start their holiday shopping around Nov. 1—heck, barely 24 hours have passed since the trick or treating ceased and the Halloween candies were collected?! And then there’s the 25% of people who get going on their holiday gift list in October. And yes, they are probably patting themselves on the back right about now as the rest of us fight the mall holiday crowds.
Since the RetailMeNot site is all about deals, discounts, and coupon codes, they also offer plenty of scoop about what your fellow shoppers are seeking out this season—from the hottest toys, to the things they are most likely to scour the web until they find the best price, to the fact that 52% of shoppers will be sure to get a special code or deal before they hit “buy.”
How much do you end up spending each holiday season?