Deep Dive

Expected Holiday Season Spending in 2023

In 2022, holiday spending grew by about 7% year-over-year. However, inflation accounted for much of that growth. 

How will today’s economic environment impact consumers’ holiday shopping budgets? And how will shoppers divvy up their spending between online and in-store shopping? Let’s take a closer look.

Reminder: For the purposes of this report, the holiday season is defined as the period between Thanksgiving and Christmas.