With $1.7T in Savings, Consumers to Spend More on Gifts, Says Report
Backed by $1.7 trillion in “excess savings” stored up and unspent during the pandemic, consumers are eager to spend, said global payments company Blackhawk Network Thursday. Some 76% of Americans surveyed said they plan to spend more on gifts when…
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they travel or socialize, it said. About 70 % of consumers plan to spend $100 or more on birthdays, 67% as much, or more, on holidays, it said. Men (76%) and GenX consumers (77%) plan to spend $250-$500 on gifts across occasions, especially holidays, it said.