The holidays may still seem a distant way out, but Americans are already crossing items off of their shopping lists. In fact, as of end-of-September, one-third (33%) of consumers say they have already started their holiday shopping, up significantly from 25% in 2015, according to the American Express Spending & Saving Tracker.
When it comes to gifts, Americans expect to spend an average of $908, an 8% increase from last year ($839 in 2015), and among affluent consumers, the expected gift spend increases to an average of $1,513.
Across the board, the most popular gifts to give this year are:
- Gift cards (52% vs. 57% in 2015)
- Clothing and accessories (51% vs. 47% in 2015)
- Toys and games (50% vs. 44% in 2015)
“While consumers are spending more money on gifts this year, they are becoming savvier with how they spend their time shopping,” said Kartik Mani, Executive Vice President of Global Consumer Lending at American Express. “With our constant connection to technology, more Americans than ever before are using their mobile devices to help them make holiday purchases.”
More than 3 in 4 Americans (76%) are turning to their mobile devices for their holiday shopping, whether to browse, compare prices or view deals (vs. 58% in 2015). There has also been a significant increase (62%) in Americans planning to purchase and/or redeem e-gift cards on mobile devices this year (26% vs. 16% in 2015).