Daily Data Dive

PYMNTS Daily Data Dive: Holiday Spend Hits $1T

Holiday spending is now projected to hit more than $1 trillion — yes, with a T—a nearly 4 percent increase over last year. The average adult is expected to spend more than $400 this holiday season on gifts. And while some people are more generous than others, the average adult will donate $244 in cash this year.

More than three out of four Americans are buying gifts on mobile, and mobile sales are slated to be 25 percent higher over last year. Additionally, some 40 percent of people just want a gift card for the holidays, and more than 80 percent of customers are using Amazon as a guidebook or research method before purchasing somewhere else.

Here are the numbers:

$1 trillion+ | Holiday spending projections for 2016

4 percent | Year-on-year increase on holiday spending

>$400 | Amount average shopper will spend on gifts

>$244 | Amount average consumer will donate to charity

> ¾ | Fraction of Americans who will buy a gift on mobile

25 percent | Year-on-year mobile sales increase

40 percent | Consumers who want a gift card

80 percent | Consumers who use Amazon as a holiday shopping guide or research method

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