Hey there! Have you noticed how holiday shopping is a bit different this year? 🎄🛍️ In the United States, some families are spending more on presents, while others are finding it harder to buy gifts because prices have gone up.
Families that earn more than $100,000 a year are buying lots of cool stuff this holiday season. But families who earn less have to spend more money on important things like groceries 🥦 and childcare 🧒, so they have less left for gifts.
Chris Peterson, the boss of a company called Newell Brands (they make things like Sharpie pens 🖊️ and Graco strollers 🚼), said there’s a big difference between shoppers. People with higher incomes are buying more expensive products, like fancy blenders 🍹 that cost over $100! But fewer people are buying cheaper items under $20.
Because of this, Newell Brands is focusing on making their high-end products even better, and not so much on the cheapest ones.
Overall, holiday shopping in the U.S. went up by about 3.8% from November 1 to December 24 compared to last year. That’s pretty good! But these numbers don’t include the after-Christmas sales, which are super important for stores.
It’s interesting to see how different families are shopping this year. Are you noticing any changes in your area?
Reference(s):
Deepening divide in U.S. holiday spending trends driven by high prices
cgtn.com
