Holiday Shopping

Record Online Spend Means Happy Holidays For E-tailers

Total holiday spend according to the National Retail Federation:

1) 2009 – $503B ( 0%)
2) 2010 – $529B ( 5%)
3) 2011 – $553B ( 5%)
4) 2012 – $568B ( 3%)
5) 2013 – $584B ( 3%)
6) 2014 – $614B ( 5%)
7) 2015 – $633B ( 3%)
8) 2016 – $653B ( 3%)
9) 2017 – $687B ( 5%)
10) 2018 – $701B ( 2%)
11) 2019 – $729B ( 4%)
12) 2020P – $761B ( 4%)

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Average holiday spend per person (YoY growth):

1) 2009 – $783     
2) 
2010 – $831 ( 6%)
3) 2011 – $878 ( 6%)
4) 2012 – $893 ( 2%)
5) 2013 – $902 ( 1%)
6) 2014 – $929 ( 3%)
7) 2015 – $953 ( 3%)
8) 2016 – $936 ( 2%)
9) 2017 – $967 ( 3%)
10) 2018 – $1,007 ( 4%)
11) 2019 – $1,048 ( 4%)
12) 2020P – $997 ( 5%)

Breakdown of average holiday spend (% of total):

1) Gifts – $650 (65%)
2) Cards/Decorations – $230 (23%)
3) Travel/Other – $117 (12%)

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FYI: The travel/other category is down 28% YoY.

Big question #1: What is the most requested holiday gift?

Quick answer: 59% say gift cards.

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Key details for the gift card economy:

1) $71B in gift cards were purchased in 2019
2) $1T+ over the past decade
3) $46B in unused gift cards are floating around

Unused gift card balance by company:

1) Amazon – $2.8B
2) Walmart – $1.9B
3) Starbucks – $1.6B
4) Target – $727M

Interesting: The average shopper spends $59 more than gift card value on their trip to redeem.

Big question #2: When are gift cards redeemed?

Share of gift cards redeemed after X months:

1) 1 month – 38%
2) 6 months – 73%
3) 12 months – 78%

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