Consumer Spending Falls for the 2022 Holiday Season
Consumer spending has fallen this holiday season, with 41% of shoppers saying they plan to spend less in 2022 than they did in 2021. Average spending on gifts has fallen 10% from last year, from $1,004 to $907. Reasons for the reduction in spending stem from concerns about inflation, the economy and home prices. Hart … Consumer Spending Falls for the 2022 Holiday Season