Higher-Income Shoppers to Spend More on Holiday Gifts
It's going to be a merry and bright holiday season, but not for all Americans. According to a new study from Deloitte, 11.5% of U.S. shoppers do not plan to spend anything on gifts this year, more than doubling from 2020. Overall, holiday spending is expected to increase, but mostly among higher-income households, which plan to spend 15% more than last year. Rod Sides, leader of U.S.