Most Americans plan to spend this holiday season, despite inflation; Earnings vs. spending in Omaha and Nebraska

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A recent Deloitte survey shows that 95% of Americans plan to shop for gifts this season. While the majority expect higher prices due to inflation, experts believe overall spending will increase by 14% compared to 2022.

With so much conflicting news about a softening economy, resilient consumers, and stubborn inflation, this holiday season will see the most interesting consumer behavior yet.

Holiday participation is on the rise. They say this is the happiest time of year, and 95% of people surveyed plan to enjoy the season to the fullest in 2023. That’s nearing pre-pandemic levels; up slightly from 93% in 2022.

People earning between $50,000 and $99,000 plan to spend 26% more than last year. Those earning more than $200,000 show a spending increase of 22%. Overall, all income groups plan to increase spending by 25%.

Check out how much people are earning vs. spending in Omaha and Nebraska.

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