Americans predict they will spend an average $805 on Christmas gifts this year, significantly below their estimate a year ago ($942) and the lowest October holiday spending projection Gallup has measured since 2016. The sharp decline in Americans’ spending intentions since 2019 points to weak holiday sales for retailers.
Source: https://news.gallup.com/poll/322796/americans-plan-scale-back-holiday-spending-year.aspx
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