PwC's latest Holiday Outlook report showcases a 7% rise in holiday spending.
report, now in its 10th iteration, shows an expected 7 percent increase in sales over last year — and a 15 percent increase from 2022. But there’s more to the numbers that meet the eye.
“Surprisingly, the divergence in spending has become increasingly apparent even as GDP is projected to grow at 3 percent in second quarter 2024,” the report’s authors said. “Nearly three in 10 consumers plan to spend less compared to the 2023 season — up 10 percent from last year — expecting to spend just $776 this season. However, 26 percent are ready to spend more, allocating a considerable $3,076 .
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