This holiday, 11.5% of people plan to sit out the season by not spending anything on presents, gift cards or other items for entertaining, according to a survey by Deloitte. That's a record amount of Americans on the sidelines, for as long as the consulting firm has been keeping track.
This tale of two holidays is a pretty good reflection of the tale of two pandemics, right? What starts off as a health crisis turns into a financial crisis if you're in the lower-income 'bracket'.”
—— said Stephen Rogers, executive director of Deloitte's consumer industry division.
Households that bringing in more than $100,000 a year will shell out $2,624 apiece this holiday, up 15% from 2020, Deloitte's survey found. While lower-income groups, which make less than $50,000 per year, plan to spend $536 per household, a 22% decline from year-ago levels.
Mooers, did you receive your Thanksgiving gifts? Do you think the pandemics affect your willingness to spend?

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