Main Street Finance

The Gift of Giving: A State-by-State Analysis of Holiday Gift Spending

By Kat

The Holiday season is a highly anticipated time of year. It’s not just about the festive decorations and heartwarming traditions, but it’s also a season of generosity and giving. It’s a time to remind loved ones how much we appreciate and care for them – whether that’s in the form of a Christmas card or a beautifully wrapped gift under the tree.

Gift-giving looks different to everyone. A new study from researchers at Shane Co. surveyed over 2,800 Americans to find the variations in holiday gift spending across the United States, and how their Holiday traditions impact their gift-giving.

According to the survey, the average gift spending per person is $101.47. This figure serves as a baseline for our exploration into the state-by-state variations in holiday gift budgets.

The top five states with the highest Christmas gift spend per person are:

New Jersey: $146.21

Virginia: $139.19

Oregon: $125.88

Rhode Island: $119.20

Pennsylvania: $118.45

The states with the lowest Christmas gift spend per person are:

Idaho: $73.89

Texas: $79.50

Louisiana: $79.83

Hawaii: $80.21

Utah: $81.49

While these states allocate less per person for holiday gifts, it’s essential to recognize that the joy of giving doesn’t always correlate with the monetary value of the presents exchanged.

The study took into account that economic factors play a pivotal role in shaping holiday gift budgets. With 56% of holiday shoppers anticipating buying fewer gifts than preferred due to inflation, the economic strain is palpable. This factor likely contributes to the thoughtful consideration given to each present, as families navigate budget constraints while maintaining the essence of the season.

The gift of giving during the holidays takes on diverse forms across the United States. From the extravagant generosity of New Jersey to the more conservative spending in Idaho, each state contributes to the collective spirit of the season in its unique way. As we unwrap our presents and share in the joy of giving, let us appreciate the regional nuances that make the holiday season a truly special time.

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