The American people are resilient and dedicated to finding ways to celebrate the holiday season, especially during a pandemic. Despite financial anxiety and higher costs, Americans still found ways to amp up their spending during the holidays.
A survey commissioned by something called Honey Science Corporation revealed that 68% of shoppers felt more financial anxiety this year when compared to years prior. Despite this, the National Retail Federation reported that American shoppers spent an average of $998.17 during the 2020 holiday season, which was up 5.2 percent from the year before.
“People adapted their spending for the holidays in various ways, like shopping more online, buying less extravagant gifts, and avoiding travel,” said Honey CEO, Ryan Hudson. Despite financial worries and concerns, it appears that the majority of Americans found ways to properly celebrate the season, albeit on a budget.
This year saw a massive change in buying habits, as e-commerce sales surged during the holiday season, according to the US Census Bureau. Shoppers were ordering items online more than ever before, as curbside pickups and contactless deliveries became the norm. The pandemic also shifted some of the most popular purchases for the holidays, as people flocked to buy items like workout gear and home improvement items instead of more traditional gifts.
To cope with the higher costs of goods and services, some people relied on more creative ways to celebrate. People sent digital gift cards and attended virtual holiday events, allowing them to stay connected with their loved ones while still observing social distancing protocols.
Although there were some clear financial losers this holiday season, the majority of Americans still managed to find ways to partake in the celebration. The resilience of the American people was truly inspirational, as they found creative and budget-friendly ways to enjoy the season while still social distancing.
“Americans Celebrate the Holidays Despite Financial Woes and Price Hikes
