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You are here: Home / News / Consumer Spending Falls for the 2022 Holiday Season

Consumer Spending Falls for the 2022 Holiday Season

December 7, 2022 by Hart Research Leave a Comment

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 Research conducted the national telephone survey of 801 adults from November 26-30, 2022. It has a margin of error of +/- 3.5%.

Read the full findings here.

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13 Apr
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@HartSurveys

One bright spot in the #CNBCAllAmericaSurvey: 52% of homeowners expect the value of their home to increase in the next year, highest recorded since 2017.

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13 Apr
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Real estate still seen as the best investment (39%) with gold in 2nd place (24%). 14% say crypto is best with ppl under 35 the biggest fans (25%, 2nd only to real estate). #CNBCAllAmericaSurvey

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13 Apr
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So far Americans mostly aren’t cutting back spending to the extent they did a decade+ ago but grocery cutbacks are on par and credit card use is up. #CNBCAllAmericaSurvey pic.twitter.com/je8E…

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13 Apr
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Biden catches inflation blame mostly from Republicans, but everyone blames corporate greed. #CNBCAllAmericaSurvey pic.twitter.com/Ekz4…

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13 Apr
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In our #CNBCAllAmericaSurvey half say Biden’s policies a “major cause” of inflation—not great—but far more blame COVID disruptions & corporations “taking advantage”. pic.twitter.com/cITR…

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