Here's How Much Americans Really Plan To Spend On Holiday Gifts This Season

Photographed by Ted Cavanaugh.
It is entirely possible that, it being the week before Thanksgiving, you haven't even thought about holiday gifts yet. (Last-minute shoppers of the world, unite.)
It is also entirely possible that you're already feverishly clicking around and bookmarking every single gadget, potted plant, bacon-and-bourbon candle, and restaurant gift card that looks like it would be perfect for your fam, related or otherwise.
Either way, once you do get around to holiday shopping, you're likely going to look for the best deals. And this year, it seems fewer Americans are feeling like splurging, so you're not alone.
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Only about half of Americans, or 53%, say they are planning to spend $50 or more on their priciest holiday gift this season, according to a new online poll of 1,093 adults by CreditCards.com, reported Mic. This includes the 27% who plan to spend $100 or more. Just 12% of people don't plan on buying any gifts at all. (Maybe they are really good at DIY projects.)
While the company doesn't have any data on last year's spending, the National Retail Federation's annual consumer survey found that overall spending on gifts is expected to go down from $621 in 2016 to $608 in 2017.
Matt Schulz, the senior industry analyst at CreditCards.com, said the findings were surprising, but explainable. "By all accounts, people are spending, the job market is improving, and people seem to have their finances fairly under control. So it was interesting to see that they're not likely to splurge," he told Mic. The reason could be that although people are finding jobs, they're not getting raises, so wages are stagnant, he added.
Whatever you'll be buying (or not buying) this year, you might also want to keep in mind these stats from e-gift platform GiftNow, reported by People: 54% of gifts were exchanged or altered last year, with the most common ones being candy, chocolate, and gum. The gifts least likely to be returned? Watches, fine jewelry, ties, wallets, and anti-aging skin care. Looks like splurging could actually pay off.
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