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A recent poll from Gallup suggests that U.S. consumers are poised for a holiday spending splurge this year. The average American adult is expected to spend roughly $830 on Christmas gifts, up sharply from last year's $720. Furthermore, 30 percent of all adults plan on spending $1,000 or more during the holiday season.
This is great news for retailers who are finally set to see spending reach pre-crisis levels. During the worst of the economic slump in 2008, average planned holiday spending fell to $616 before rising slighly to $638 in 2009. This year, the mood of positivity is set to ensure that there'll be more presents under American Christmas trees than any time since 2007.
*Click below to enlarge (charted by Statista)