What Americans Spent on Christmas the Year You Were Born
The vast majority of Americans celebrate Christmas with lights, carols, fir trees and wreaths, as well as, of course, by buying and exchanging gifts. For most people, the celebration means, above all, spending more money. With sales across virtually all retail areas increasing dramatically at the end of the year, the Christmas season is a reliable annual economic boost for many U.S. businesses.
Using a model based on the National Retail Federation holiday spending methodology, 24/7 Wall St. determined how much a person spent on average during the season -- in November and December -- of each year since 1940. Back then, Americans spent just over $27 billion during the Christmas season, or about $205 per person on average.
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Since then, the U.S. population has more than doubled, and spending during the holidays has increased many times over. At a total of $631.7 billion, 2015 holiday spending is the highest on record. The average spending per person over November and December 2015 was almost $2,000, also the highest of any year for which data are available.
Gifts, mostly for Christmas, will continue to account for a good chunk of the holiday spending. According to a Gallup poll conducted from November 9-13, 2016 the average American plans to spend approximately $750 on just gifts this holiday season.
For over a decade, U.S. jewelry stores have relied on the holiday season for between 25% and 30% of their annual revenue. Last year, 27.4% of jewelry sales occurred in November and December, the highest percentage of all industries. For reference, with no seasonality whatsoever, the average two months of sales would amount to 16.7% of annual revenue. For the jewelry industry specifically, an average two-month period outside the holiday season almost never brings in more than 15% of the year’s revenue.
To determine Christmas spending in each year, 24/7 Wall St. reviewed consumer spending in November and December published by the U.S. Census Bureau each year from 1992 through 2015. Using a model based on the National Retail Federation holiday spending methodology, we estimated spending levels in each year since 1940. In line with figures published by the NRF, average spending over November and December includes all purchases except spending on restaurants, cars, and gas. Personal income per capita, adjusted for inflation, in each year came from the Bureau of Economic Analysis.
Here is what Americans spent on Christmas each year since 1940.
1940
> Holiday spending per capita: $205.26
> Personal income per capita: $7,621.53
> Total holiday spending: $27.12 billion
> Population: 132,122,446
1941
> Holiday spending per capita: $212.94
> Personal income per capita: $8,762.62
> Total holiday spending: $28.41 billion
> Population: 133,402,471
1942
> Holiday spending per capita: $220.94
> Personal income per capita: $9,975.54
> Total holiday spending: $29.80 billion
> Population: 134,859,553
1943
> Holiday spending per capita: $228.26
> Personal income per capita: $11,107.73
> Total holiday spending: $31.21 billion
> Population: 136,739,353
1944
> Holiday spending per capita: $234.80
> Personal income per capita: $11,275.21
> Total holiday spending: $32.50 billion
> Population: 138,397,345
1945
> Holiday spending per capita: $240.95
> Personal income per capita: $11,108.39
> Total holiday spending: $33.72 billion
> Population: 139,928,165
1946
> Holiday spending per capita: $247.18
> Personal income per capita: $10,680.97
> Total holiday spending: $34.95 billion
> Population: 141,388,566
1947
> Holiday spending per capita: $251.44
> Personal income per capita: $10,133.64
> Total holiday spending: $36.24 billion
> Population: 144,126,071
1948
> Holiday spending per capita: $256.52
> Personal income per capita: $10,352.30
> Total holiday spending: $37.61 billion
> Population: 146,631,302
1949
> Holiday spending per capita: $259.82
> Personal income per capita: $10,134.31
> Total holiday spending: $38.76 billion
> Population: 149,188,130
1950
> Holiday spending per capita: $263.99
> Personal income per capita: $10,866.39
> Total holiday spending: $40.20 billion
> Population: 152,271,417
1951
> Holiday spending per capita: $269.52
> Personal income per capita: $11,311.41
> Total holiday spending: $41.74 billion
> Population: 154,877,889
1952
> Holiday spending per capita: $273.92
> Personal income per capita: $11,645.38
> Total holiday spending: $43.16 billion
> Population: 157,552,740
1953
> Holiday spending per capita: $278.23
> Personal income per capita: $11,979.42
> Total holiday spending: $44.57 billion
> Population: 160,184,192
1954
> Holiday spending per capita: $281.00
> Personal income per capita: $11,788.06
> Total holiday spending: $45.81 billion
> Population: 163,025,854
1955
> Holiday spending per capita: $285.10
> Personal income per capita: $12,374.17
> Total holiday spending: $47.31 billion
> Population: 165,931,202
1956
> Holiday spending per capita: $289.17
> Personal income per capita: $12,791.28
> Total holiday spending: $48.84 billion
> Population: 168,903,031
1957
> Holiday spending per capita: $292.71
> Personal income per capita: $12,895.04
> Total holiday spending: $50.34 billion
> Population: 171,984,130
1958
> Holiday spending per capita: $295.78
> Personal income per capita: $12,759.66
> Total holiday spending: $51.73 billion
> Population: 174,881,904
1959
> Holiday spending per capita: $299.74
> Personal income per capita: $13,134.86
> Total holiday spending: $53.30 billion
> Population: 177,829,628
1960
> Holiday spending per capita: $303.48
> Personal income per capita: $13,327.84
> Total holiday spending: $54.83 billion
> Population: 180,671,158
1961
> Holiday spending per capita: $306.81
> Personal income per capita: $13,543.76
> Total holiday spending: $56.36 billion
> Population: 183,691,481
1962
> Holiday spending per capita: $311.18
> Personal income per capita: $14,018.47
> Total holiday spending: $58.05 billion
> Population: 186,537,737
1963
> Holiday spending per capita: $315.40
> Personal income per capita: $14,349.11
> Total holiday spending: $59.69 billion
> Population: 189,241,798
1964
> Holiday spending per capita: $320.68
> Personal income per capita: $14,954.26
> Total holiday spending: $61.53 billion
> Population: 191,888,791
1965
> Holiday spending per capita: $326.91
> Personal income per capita: $15,725.50
> Total holiday spending: $63.52 billion
> Population: 194,302,963
1966
> Holiday spending per capita: $334.04
> Personal income per capita: $16,482.90
> Total holiday spending: $65.66 billion
> Population: 196,560,338
1967
> Holiday spending per capita: $340.95
> Personal income per capita: $17,060.01
> Total holiday spending: $67.75 billion
> Population: 198,712,056
1968
> Holiday spending per capita: $349.88
> Personal income per capita: $17,844.56
> Total holiday spending: $70.22 billion
> Population: 200,706,052
1969
> Holiday spending per capita: $359.30
> Personal income per capita: $18,515.65
> Total holiday spending: $72.82 billion
> Population: 202,676,946
1970
> Holiday spending per capita: $367.57
> Personal income per capita: $18,886.84
> Total holiday spending: $75.37 billion
> Population: 205,052,174
1971
> Holiday spending per capita: $375.72
> Personal income per capita: $19,285.78
> Total holiday spending: $78.02 billion
> Population: 207,660,677
1972
> Holiday spending per capita: $386.74
> Personal income per capita: $20,260.49
> Total holiday spending: $81.18 billion
> Population: 209,896,021
1973
> Holiday spending per capita: $400.37
> Personal income per capita: $21,178.63
> Total holiday spending: $84.84 billion
> Population: 211,908,788
1974
> Holiday spending per capita: $413.86
> Personal income per capita: $20,857.00
> Total holiday spending: $88.50 billion
> Population: 213,853,928
1975
> Holiday spending per capita: $427.73
> Personal income per capita: $20,854.84
> Total holiday spending: $92.38 billion
> Population: 215,973,199
1976
> Holiday spending per capita: $443.13
> Personal income per capita: $21,468.61
> Total holiday spending: $96.62 billion
> Population: 218,035,164
1977
> Holiday spending per capita: $460.63
> Personal income per capita: $22,037.29
> Total holiday spending: $101.45 billion
> Population: 220,239,425
1978
> Holiday spending per capita: $482.59
> Personal income per capita: $22,903.66
> Total holiday spending: $107.42 billion
> Population: 222,584,545
1979
> Holiday spending per capita: $505.69
> Personal income per capita: $23,251.67
> Total holiday spending: $113.81 billion
> Population: 225,055,487
1980
> Holiday spending per capita: $531.62
> Personal income per capita: $23,191.50
> Total holiday spending: $120.80 billion
> Population: 227,224,681
1981
> Holiday spending per capita: $561.40
> Personal income per capita: $23,619.05
> Total holiday spending: $128.82 billion
> Population: 229,465,714
1982
> Holiday spending per capita: $582.27
> Personal income per capita: $23,733.42
> Total holiday spending: $134.89 billion
> Population: 231,664,458
1983
> Holiday spending per capita: $604.22
> Personal income per capita: $24,094.68
> Total holiday spending: $141.26 billion
> Population: 233,791,994
1984
> Holiday spending per capita: $638.35
> Personal income per capita: $25,429.90
> Total holiday spending: $150.54 billion
> Population: 235,824,902
1985
> Holiday spending per capita: $665.04
> Personal income per capita: $26,083.38
> Total holiday spending: $158.23 billion
> Population: 237,923,795
1986
> Holiday spending per capita: $689.13
> Personal income per capita: $26,802.49
> Total holiday spending: $165.48 billion
> Population: 240,132,887
1987
> Holiday spending per capita: $715.59
> Personal income per capita: $27,371.67
> Total holiday spending: $173.38 billion
> Population: 242,288,918
1988
> Holiday spending per capita: $751.04
> Personal income per capita: $28,221.60
> Total holiday spending: $183.63 billion
> Population: 244,498,982
1989
> Holiday spending per capita: $788.71
> Personal income per capita: $28,956.46
> Total holiday spending: $194.67 billion
> Population: 246,819,230
1990
> Holiday spending per capita: $819.80
> Personal income per capita: $29,163.31
> Total holiday spending: $204.51 billion
> Population: 249,464,396
1991
> Holiday spending per capita: $838.83
> Personal income per capita: $28,886.92
> Total holiday spending: $211.51 billion
> Population: 252,153,092
1992
> Holiday spending per capita: $1,056.47
> Personal income per capita: $29,687.78
> Total holiday spending: $269.43 billion
> Population: 255,029,699
1993
> Holiday spending per capita: $1,116.09
> Personal income per capita: $29,904.63
> Total holiday spending: $287.71 billion
> Population: 257,782,608
1994
> Holiday spending per capita: $1,184.32
> Personal income per capita: $30,489.53
> Total holiday spending: $308.31 billion
> Population: 260,327,021
1995
> Holiday spending per capita: $1,216.51
> Personal income per capita: $31,300.76
> Total holiday spending: $319.70 billion
> Population: 262,803,276
1996
> Holiday spending per capita: $1,249.77
> Personal income per capita: $32,234.53
> Total holiday spending: $331.47 billion
> Population: 265,228,572
1997
> Holiday spending per capita: $1,291.51
> Personal income per capita: $33,332.75
> Total holiday spending: $345.85 billion
> Population: 267,783,607
1998
> Holiday spending per capita: $1,357.30
> Personal income per capita: $35,151.88
> Total holiday spending: $366.81 billion
> Population: 270,248,003
1999
> Holiday spending per capita: $1,455.29
> Personal income per capita: $36,117.27
> Total holiday spending: $396.84 billion
> Population: 272,690,813
2000
> Holiday spending per capita: $1,453.36
> Personal income per capita: $36,821.87
> Total holiday spending: $410.08 billion
> Population: 282,162,411
2001
> Holiday spending per capita: $1,475.35
> Personal income per capita: $37,236.72
> Total holiday spending: $420.43 billion
> Population: 284,968,955
2002
> Holiday spending per capita: $1,474.70
> Personal income per capita: $37,061.47
> Total holiday spending: $424.16 billion
> Population: 287,625,193
2003
> Holiday spending per capita: $1,530.86
> Personal income per capita: $37,358.69
> Total holiday spending: $444.12 billion
> Population: 290,107,933
2004
> Holiday spending per capita: $1,613.43
> Personal income per capita: $38,274.14
> Total holiday spending: $472.42 billion
> Population: 292,805,298
2005
> Holiday spending per capita: $1,690.32
> Personal income per capita: $38,929.52
> Total holiday spending: $499.52 billion
> Population: 295,516,599
2006
> Holiday spending per capita: $1,735.11
> Personal income per capita: $40,310.66
> Total holiday spending: $517.72 billion
> Population: 298,379,912
2007
> Holiday spending per capita: $1,755.80
> Personal income per capita: $41,026.11
> Total holiday spending: $528.90 billion
> Population: 301,231,207
2008
> Holiday spending per capita: $1,658.25
> Personal income per capita: $41,086.24
> Total holiday spending: $504.27 billion
> Population: 304,093,966
2009
> Holiday spending per capita: $1,649.16
> Personal income per capita: $39,426.08
> Total holiday spending: $505.92 billion
> Population: 306,771,529
2010
> Holiday spending per capita: $1,709.81
> Personal income per capita: $39,677.81
> Total holiday spending: $528.93 billion
> Population: 309,346,863
2011
> Holiday spending per capita: $1,771.34
> Personal income per capita: $40,826.78
> Total holiday spending: $552.16 billion
> Population: 311,718,857
2012
> Holiday spending per capita: $1,801.55
> Personal income per capita: $41,745.86
> Total holiday spending: $565.87 billion
> Population: 314,102,623
2013
> Holiday spending per capita: $1,831.24
> Personal income per capita: $41,361.52
> Total holiday spending: $579.46 billion
> Population: 316,427,395
2014
> Holiday spending per capita: $1,913.06
> Personal income per capita: $42,545.92
> Total holiday spending: $610.09 billion
> Population: 318,907,401
2015
> Holiday spending per capita: $1,965.37
> Personal income per capita: $43,909.15
> Total holiday spending: $631.71 billion
> Population: 321,418,820
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