According to a Morgan Stanley survey conducted this month involving around 2,000 consumers, Americans are more optimistic about holiday shopping prospects than in the past two years.
Approximately 35% of respondents said they expect to spend more this holiday shopping season compared to last year.
The latest consumer survey by the National Retail Federation (NRF) projects that average spending on gifts, food, decorations, and other seasonal items during the winter holidays will reach a record $902 per person. This is about $25 higher than last year's average and $16 above the previous record set in 2019.