Survey Says Holiday Spending Is Dropping This Year
Keeping it real with everyone right now, we are sure a lot of families already let each other know that this holiday season will be different when it comes to gifts. We can't blame anyone because the pandemic has made our pockets way tighter.
According to the Philadelphia Inquirer, everyone's household is projected to spend 7% less during the holiday season than in previous years. That doesn't sound like a lot but it can really add up. The average amount spent by families this holiday season will be somewhere close to $1,400.
The Inquirer stated that around 4,000 people were part of a survey that calculated that percentage and that amount of money. The limited holiday spending will also be felt with traveling as people are scared of getting infected with the coronavirus.
You can't blame anyone for not wanting to travel.
With that being said we probably all have made the switch and have done a ton of online shopping or curbside pickup. The Inquirer mentioned that online shopping and curbside pick will probably be in extremely high demand this holiday season and will continue to boom.
Online shopping has grown close to 50% this year, according to the Philadelphia Inquirer. It is definitely noticeable when you walk around a shopping mall. You can see that everything is pretty empty. Not only that, but you can also feel that people's vibes are a little shot and nervous.
We just have to see how things will change once the presidential election is done and over with because a lot of people believe things will change drastically. Some have even gone to say that COVID-19 can possibly become non-existing.
Maybe regular shopping will be a thing by Black Friday. We are just going to have to wait and see.