Despite Supply Chain Issues, Holiday Spending Expected To Be On Par With Last Year, Survey Finds
MINNEAPOLIS (WCCO) -- Consumers plan to spend an average of nearly $1,000 for themselves and their families this holiday season, according to a survey from the National Retail Federation.
According to NRF, that's on par with consumer spending last year -- despite the continued supply chain issues experienced this year.
"Every year retailers plan their seasonal inventory, staffing and product promotions well in advance for the busy holiday season," NRF President and CEO Matthew Shay said. "Consumers are ready to celebrate, and gift-giving is high on the list. The retail industry is working diligently with ports, labor, shippers and transportation providers as well as government officials to overcome supply chain challenges and make sure consumers have access to the gifts they want to give and, just as important, receive."
Additionally, 90% of American adults plan to celebrate winter holidays, including Hanukkah, Kwanzaa and Christmas. That's up from 87% last year.
