If you can’t tell it’s the winter holiday season from the festive commercials, lights, and caroling, you can probably tell by your dwindling bank account balance.
Americans spent an estimated $586.98 billion in the retail sector in December 2023, according to the Census Bureau’s Monthly Retail Trade Report. That’s about $1,750 per person, and a jump from the estimated $532.85 billion spent in November 2023.
This is all slightly less than the December 2021 peak for retail and food sales: around $593.34 billion, 1.1% more than in 2023 (after accounting for inflation).
Since 1992, people have spent more in December than any other month. November was the second-spendiest month for each year, except in 2008 and 2009.
How has Americans’ holiday-season spending changed in recent years?
In 2021, December spending increased 9.0% compared to 2020, the largest year-over-year increase since at least 1992.
From 2021 to 2023, December retail stayed relatively level. December retail shopping has increased every year since 2009 except 2018 and 2022, when sales were 2.7% lower and 1.5% lower than the years prior.
December 2023 retail spending accounted for 9.7% of all 2023 retail spending, compared with 10.2% in 2013, 10.8% in 2003, and 11.3% in 1993.
How does retail spending change throughout the year?
Average monthly retail spending is lowest in January and February. February is usually the lowest-sales month of the year, with $320 billion in spending on average. Sales then increase incrementally from September to December, with a 4.5% increase from September to October, a 4.7% increase from October to November, and an 18.9% increase from November to December.
Apart from year-end spending, May and August are the highest-spending months. With an average of $376 billion in May and $375 billion in August, they’re the third and fourth highest-spending months of the year.
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Page sources and methodology
All of the data on the page was sourced directly from government agencies. The analysis and final review was performed by USAFacts.
Census Bureau
Advance Monthly Sales for Retail and Food Services
