The Christmas holiday season is a peak sales season for retailers all around the world, but especially in the United States. In fact, it can even lend to make or break situations for certain retailers whose sales are dependent on the Christmas holiday season uptake.
Last week we talked about whether you should hold a holiday promotion or not for your own business. And although Christmas is behind us, I thought it would be a great opportunity to talk briefly about the economics of Christmas as a whole.
When is the Christmas Season for Retailers?
It is said that 9 in 10 Americans celebrate Christmas, with the majority of those celebrating it as a cultural event and not necessarily as a religious event. So naturally, retailers bring plenty of what the people want: holiday season merchandise!
The Christmas creep describes the slow creeping of the Christmas season as coming in earlier and earlier each year. Today, the Christmas season in retail starts as early as October. It is evident on November 1 as the Halloween decorations go out the door with Christmas decorations immediately replacing them and skipping right over Thanksgiving!
Unsurprisingly, the winter holidays are the most expensive holidays in America. With the average person expected to spend $794 this year. Following the winter holidays, Mother’s Day, Easter and Valentine’s Day are the most expensive holidays, respectively. Saint Patrick’s Day is the least most expensive holiday, with an average spend of $37.92 per person.
Spending During the Christmas Season= Trillions
This year it is estimated that the Christmas retail season will see over $1 trillion in sales. Which considering the economic situation and low unemployment isn’t that surprising. While retail sales during the Christmas season appear to have grown in the 2010s, the 2018 jump is predicted to be the largest growth since 2011.
Between 1999 and 2017, the most expensive year per person for the Christmas holiday season was 2007, which saw Americans spend $866 each on average. Right next to last Christmas in 2017, with an average spend of $862.
Wishing you the happiest of holidays!
How much did you spend this Christmas? Let me know below in the comments!
Looking to Cash in on the Holiday Season Next Year?
Here are a few ideas for you to start on:
- Here Are 7 Strange and Unique Business Opportunities
- Ready to Build an Online Business? Here Are 5 You Can Start Today
- Blogging Your Way to an Income
Tae started out as a journalist before following the money into the corporate world. But it turns out that the grass isn’t always greener and now you can find her spending most of her time writing about all the things she loves. Namely, money, travel and business with a hefty dose of self-deprecating humor. She is a podcast fanatic, blogging aficionado and loves to find new ways to turn passions into cold hard cash!