LendEDU has released its third annual Christmas consumer spending report. This year’s version (https://lendedu.com/blog/cost-of-christmas/ ) also features a new section: a price comparison between 20 identical Christmas items found on both Amazon and Walmart.
Some of the key findings included:
° The average adult American anticipates spending $668 on Christmas in 2019, up from last year’s figure of $633.
° Fifty-seven percent ($380.76) of that total spend will go towards gifts, while 15% each ($100.20) will go towards decorations and other expenses, and 13% ($86.84) will go towards travel.
° Twenty percent anticipate going into debt to afford Christmas this year, with the average amount of debt being $720.
° Fifty-percent will do their Christmas shopping online, while 47% will go to the store. And while 47% said they will use Amazon, 38% will use Walmart, and 15% will use neither.
° For 20 identical Christmas items (gifts and decorations) found on both Amazon and Walmart, Amazon was cheaper by just 1% overall.
LendEDU is a website that helps consumers learn about and compare financial products, including student loans, personal loans, credit cards, insurance products, banking products, and more.