Holiday Spending Trends: Top Categories in 2023 vs. 2024 (WMT/TJX/NKE/GAP/GME/BBY/ANF/NTDOY)
- Occam forecasts consumers will spend 5.5% more this holiday season, with total spending rising to ~$720 from ~$683 in 2023 (data available on request)
- Clothing & Accessories remains the top holiday spending category, rising from 57% in 2023 to 60% in 2024.
- Electronics spending is set to rise from 32% in 2023 to 35% in 2024, driven by growing demand for AI-enabled gadgets. For more on this trend, refer to our previous posts here and here.
- Though it remains a smaller category, Occam forecasts that Health & Wellness spending will rise from 14% to 18%, reflecting a shift in gifting towards personal care and wellness.
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