Here are some consumer holiday spending facts to ponder…
In 2010 consumers spent an estimated $648 million on Black Friday. This year, according to ComScore, consumers spent a whopping $816 million online alone, making Black Friday the heaviest spending day on the Internet so far in 2011. That’s a Black Friday sales increase of about 26% since last year.
However, all the shopping madness wasn’t over on Black Friday. Last year, Cyber Monday sales reached an all time high of $1.028 billion, and Forbes originally estimated that the current trend would hold, thus, this year’s sales would increase. Forbes was right on the money. MarketLive, Inc., the leading provider of enterprise-class eCommerce technology and services, just announced that 2011 Cyber Monday revenue increased 26 percent over last year. According to comScore, this year’s Cyber Monday was the biggest online spending day in history, with revenues of $1.25 billion in the United States.
On top of that… Consumer Reports notes that not only do shoppers spend more than they plan on these mega shopping days, but 45% of Americans who made a budget last year exceeded it and about 14.1 million adults are still carrying debt from the 2010 holiday season.
TOTAL INSANITY!
The National Retail Federation forecasts that the average American will spend around $700+ on holiday shopping in 2011, and those figures are likely low, since every year many consumers go well over budget. In any case, this is completely unnecessary. Plus keep in mind that these statistics are regarding individuals, not families. Typically, in a family with two parents, research says they’ll BOTH spend that average $700+, so in reality many two-parent families are spending anywhere from $1,400 to $2,000 a year on Christmas. Worst of all, most of this money isn’t even going toward an eco-friendly holiday.
How much I spent in 2010
Last year, I tracked my spending carefully, and I spent about $250 on everything Christmas related, including gifts, food, decor and everything else. Keep in mind that except for one item (Legos), all the gifts I gave were eco-friendly too, so the whole idea of having to spend more for a green holiday is bunk. Had I gotten my act together and made some homemade gifts, I’d have spent even less. This year, my goal is to have a fun holiday while spending even less $.
This isn’t about hating on Christmas
This isn’t about being a Grinch and killing Christmas dreams. I like Christmas as much as anyone. However, I don’t like how it’s become so commercial, so stuff oriented and less about family celebrations. I’m also not advocating a perfectly stuff-free Christmas. Gifts are nice, it’s all the excessive behavior that gets me. I think consumer holidays are especially detrimental to kids and I also think you can have both gifts and family time without all the super greedy consumerism issues.
* 50 ideas about how to have a nicer, less consumer, more family focused Christmas (coming soon)
Lead image via Flickr user jbhthescots
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As usual, Jennifer, you did a fantastic job of not only making your point, but backing it up. Shared via Twitter and FB and will continue to do so. Of course we’re totally on board. I always was, even when our kids were small although I know there were times they got too much. But the underlying value even then was putting the meaning in holidays and celebrations and making them memorable. Nothing cheers me more than sitting around with our grown kids and having them recall our family holidays. By the way, hope yours is great!
I think I’ve experienced somewhat excessive holidays, but not in recent years. I don’t know why, but all of a sudden about 8 years ago I got so disenchanted with all the excess that it almost turned me off to x-mas entirely. Now I’m at a weird point, where some people around me like the excess and others don’t, thus balancing everyone’s wants is really hard, while at the same time maintaining a positive attitude about x-mas. Overall though, each year we manage to par down a bit more and it’s gotten better. Slow-going but better. I hope you have a wonderful holiday too!
I absolutely agree with you. I remember a few years ago how apologetic my inlaws were when they said they had to cut back on Christmas gifts. Frankly, I was relieved. I don’t need a lot of things to make a good holiday.
My sisters and I do name draws to cut down on who’s shopping for each person. The gifts are nicer that way, and there’s less stress. We all like it simpler, and have cut out birthday shopping for each other completely. My mother is looking at membership gifts for the grandkids, because she knows they get too many toys as is.
Oh, and I’m with you on the Legos. My kids are getting some, but on the plus side some will be handmedowns from my husband’s childhood collection. Those things do last forever.
I’ve always felt the same way; it’s fun to get a big shiny gift, but with that gift comes a lot of baggage. The reason for getting the gift in the first place is buried under all the excess of the season. On top of all of that waste is the oft annoying and difficult to open wrapping/packaging. After all of time and money spent, the big shiny gift is usually dull and unwanted by the time Spring finally rolls along (if it makes it that long…)
I don’t want to be Linus’ wet blanket; I enjoy giving/getting handmade gifts, but the time required can be taxing. Since you are tracking your total expense, could you track the time you spend on making gifts? It would be interesting to compare both monetary and time expense. Great stats! It’s crazy when you think about the recession or the unemployed…
Well put Stephanie “The gifts are nicer that way, and there’s less stress.” Spending time with friends and family is where the season should be focused. For Christmas, I’ve started asking people to donate their blood at the Red Cross. Ironically, in this “season of giving,” very few give the gift I request. The cost of time and attention today is asking a lot, but the Holidays are supposed to be a time when we slow down and focus on those people that matter most.
Oh well, maybe I’ll just get a copy of The Legend of Zelda: Skyward Sword and call it a day… hahaha
Thanks for this article; it’s nice to have some people championing a good cause. Less is more. ~ Merry Christmas and Happy Holidays
@Stephanie my in-laws have been a large source of issues during the holidays actually, always thinking more is better and expensive is best. But, we ask each year for them to cut back and they’re finally starting to listen (after 9 years). I agree Legos do last forever! That somewhat off sets the whole non-recycled issue (they only make some bricks with recycled plastic). It’s the one collection I’ve let Cedar totally engage in – most are so here today gone tomorrow, but he’s used Legos forever.
Uh oh, forgot to add @Patrick – I like the idea of blood donations it works for non-green and green folks both and is a nice gift. Unless you’re super anti-needles. Zelda is awesome! But to get it my son and I socked away some cash each month before the release. I don’t know if I’d buy a $70 video game for a holiday specific gift, just because it seems a bit much. Have a happy holiday too.
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