The 2024 holiday season is looking good for retailers, as indicated by Gallup’s surveys on U. S. consumers’ gift-buying plans. Consumers estimate they will spend an average of $1,012 on Christmas and other gifts, which is up from $975 last year.

The poll shows nearly equal numbers of consumers planning to spend more or less compared to the previous year. Typically, spending estimates decline as the holiday approaches, but this year they have remained steady since October.

Unlike last year, the increase in spending is consistent with a general upward trend since 1999, following difficult inflation years. Holiday sales usually grow by about 4% each year, and this year they may rise closer to 5% due to improved consumer sentiment and stable inflation rates. High-income groups and parents are expected to spend the most, while Christians plan to spend significantly more than non-Christians. Overall, Americans are less cautious about their holiday spending this year.