A U.S. News & World Report survey found that 30% of Americans are waiting for their next paycheck to finish their Christmas shopping.
A third of those surveyed said they have not found their desired gifts yet, while 16% said they wait until the last minute to do their shopping.
According to a Monmouth University survey, 55% of Americans cut back on their Christmas shopping due to inflation.
Last year, 46% of Americans reported doing less Christmas shopping.
“The rate of inflation may be slowing but the damage has been done after a long stretch of rising prices. There could be a number of reasons why more are cutting back this season,” said Patrick Murray, director of the independent Monmouth University Polling Institute. “Perhaps those who kept to their usual spending habits as we came out of the pandemic are seeing it catch up with them now. Or maybe their budgets are the same, but they are exchanging fewer gifts or buying for fewer people.
“Whatever the reason, there is greater pessimism on the holiday gift-giving front,” he added.
American Faith reported that prices of Christmas trees have increased since 2022.
Data from the National Christmas Tree Association and the American Christmas Tree Association revealed that the cost of Christmas trees has increased 10% from 2022.
Artificial trees have reportedly gone up the most, starting at around $85 and going up to nearly $1000.
“According to our 2023 survey, 52 percent of artificial Christmas tree owners purchased their tree for under $200, and 27 percent paid $200 to $400,” Jami Warner, executive director of the ACTA, said.
“For artificial Christmas trees, costs vary depending on the producer, retailer, size, shape, and features such as pre-lit options.”
“We are encouraged to see that consumer demand for all types of Christmas trees remains high in 2023,” Warner said. “Artificial, live, small, tall, flocked, you name it – there’s no such thing as a bad Christmas tree, and there is no better way to bring cheer to the Christmas season than by celebrating with a Christmas tree.”
