Texas Residents Among Top Christmas Spenders in the U.S.

According to a report by “Scholaroo,” titled  "Christmas Spending Across the US in 2023," it analyzed American consumer behavior during the holiday season. 

Texas residents are set to rank among the biggest spenders on Christmas gifts in the country.

The anticipated average spending per capita on gifts and seasonal items in Texas is projected to reach $1,634.25 this year, securing the state's position as the tenth highest in the nation. 

Surpassing the national average by 25.85 percent, Texas residents are gearing up to spread holiday cheer through generous gift-giving.

Scholaroo's exploration into American consumer behavior during the festive season also reveals some nationwide trends and preferences. 

The report indicates that 92% of consumers plan to celebrate winter festivities, including events such as Hanukkah, Christmas, and Kwanzaa. 

Furthermore, a substantial $29.3 billion is expected to be spent on gift cards, with an average value of $49.43 per gift card.

In terms of shopping preferences, 65.7% of consumers express a preference for national retailers over local stores, emphasizing the popularity of large-scale, well-known establishments during the holiday season.

As the excitement of the festive season unfolds, Scholaroo's data team projects a 3.8 percent growth in sales for the 2023 holiday season compared to the previous year. 

Online and other non-store sales are expected to experience significant growth, ranging between 7 percent to 9 percent, reaching a total of $273.7 billion to $278.8 billion. 

This marks a notable increase from the $255.8 billion recorded in the previous year.

Interestingly, the report delves into the financial habits of wealthier households, revealing that individuals making at least $200,000 annually are more likely to carry credit card debt even after purchasing gifts. 

Almost two-thirds of them plan to pay for their holiday purchases gradually with a credit card, highlighting a trend among affluent consumers.

Scholaroo's data team conducted a thorough analysis of publicly available data on the history of consumption during the holiday season over the last decade and incorporated spending expectations for Christmas 2023.