It’s the season of giving – and spending.
Americans will pay an average of $1,014 more for gifts this holiday, according to Gallup’s 2024 holiday spending estimates.
That’s a 9% increase from 2023, when shoppers dropped an average of $923. The increase is thanks to inflation, experts say – a nagging problem that has significantly affected the retail industry.
And while a new seasonal survey released by WalletHub places NYC well above the estimated national average, our peak holiday budget of $1,539 per shopper is still well below many other lucky places in the country, reported formerly The Post.
To get a better sense of how we’re doing this season, The Post hit the streets of the Big Apple to ask New York City shoppers what they’re buying, how much they plan to pay — and how they’re sticking to their budgets. theirs.
Jesse Lynn Harte, 29, Queens
Jesse Lynn Harte hopes to stay disciplined this year, but thinks the odds are against her.
“I plan to spend — hopefully, if I have a budget — $1,050,” she confessed. “But I will spend more than that. I know,” she admitted.
She will stretch her limit to buy gifts for her boyfriend, close family, aunts, uncles, cousins and close friends.
Her most expensive gift will be a designer item for her sister, she said.
Kaarin Holmberg, 77, Manhattan
Some New Yorkers have no plans to deck the halls with holiday gifts.
“I plan not to spend anything because all my friends are old and don’t want any presents,” Holmberg revealed.
“I’m a childless cat lady,” she confessed – saying she’ll be gifting a treat to her feline family member this year.
“He’s deaf and cross-eyed, so I don’t know if he knows if it’s the holiday season,” the septuagenarian quipped.
Shari Ellis, 39, Bronx
“My budget is about $300 for gifts,” Ellis declared, before catching himself. “OK, I’m married, so $500.”
Ellis plans to give 10 people a gift this holiday season — and she has a strategy to make sure she sticks to the plan.
“Well, I’m budgeting, but I find great sales at Macy’s, Nordstrom, and Fashion Nova, so I’m looking more on the sale side, where you find, like, a lot of great stuff,” she said.
Samantha Rullo, 32, Staten Island
“I’m definitely going to spend more on holiday gifts because I’m a budget freak, but I’ll say maybe $1,000,” Rullo told The Post.
The Staten Island native chooses to forego physical gifts, instead buying experiences for her loved ones, such as tickets to a Broadway show, dinner or an Airbnb gift card.
Rullo’s holiday season comes with an extra layer of pressure this time around because she’s also shopping for gifts for her boyfriend’s family.
“I’m in a new relationship and I have to do a lot to make a good impression, thus adding to my partner’s family,” she confessed. “I hope to God that [my budget] It remains true, but it probably won’t.”
Clinton Reeves, 32, Manhattan
“I’m probably going to try to keep my holiday spending under $1,000 because I have a lot of people to shop for and I have a few special people that I want to get some nice things,” Reeves said. Post office.
The Hell’s Kitchen resident, who plans to buy 20 presents, confessed that a grand will be the most he’s ever spent on holiday gifts.
Ambika Deva, 46, Jersey City
Across the Hudson River, Ambika Deva, 46, hasn’t made up her mind yet about holiday spending.
“Okay… Who knows? Well, this year I won’t see my family in Florida,” Deva told The Post. “So maybe a little less, roughly around a thousand.”
The mother of one anticipates that most of her spending budget will go towards gifts for her son. Her most expensive gift, she said, will be a weekend vacation with her family.
Keino Thompson, 49, Bronx
The family man plans to spend about $1,000 on gifts for his wife and children; however; he has no plans to make those purchases at the store.
“I’m not standing in line,” he laughed to The Post. “I’m going to shop online.”
Thompson predicts his wife’s gift will be the most expensive.
Arthur Greenberger, 72, Queens
The Queens resident admits his wife oversees the holiday shopping, but if he had to “park it,” he’d estimate more than $1,000.
“Well, between our kids and the baker’s dozen of grandkids, I’d say somewhere between $1,200 and $1,500,” Greenberger said.
Nickolai Arneson, 27, Brooklyn
“With all the gifts and going out, eating out with friends, maybe a thousand [dollars]Arneson told The Post.
This budget will have to cover gifts for about eight people, including his mother, father and brother.
Andre Diggs, 30, Bronx
The Bronx resident confessed that he doesn’t start his holiday shopping until the festivities begin — even if it’s hours after gifts are normally opened.
“I’m late with everything,” Diggs admitted. “I wait for Christmas day to shop.”
Even though he’s late, Diggs isn’t afraid to spend a few bucks to make his family and friends feel loved during the holidays. He said he plans to drop “thousands” of dollars on the glitzy Fifth Avenue stores.
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