Christmas and Hanukkah Shopping Poised to Soar to $989 Billion

By Matthew Holloway |

The National Retail Federation (NRF), in collaboration with Prosper Insights & Analytics, has unveiled a survey revealing the season’s best-selling toys and gifts. As the holiday season ramps up, NRF’s Vice President Katherine Cullen emphasized the ongoing shopping momentum, stating, “While many consumers have made progress on their shopping lists, most will complete the majority of their purchases in the coming weeks.”

Projections for 2024 holiday spending indicate an increase of 2.5-3.5%, estimating totals between $979.5 billion and $989 billion. The survey highlights kids’ toy preferences, with traditional items like Legos and Hot Wheels outpacing video games among boys. Girls show a preference for Barbie and dolls, alongside Legos and beauty products.

Among adults, clothing tops the gift-giving list at 54%, closely followed by gift cards at 44%. Toys rank at 36%, while books, video games, movies, and food and candy round out the top categories at 31% and 30%, respectively. For gift cards, popular choices include restaurants (30%), department stores (25%), and bank-issued cards (25%). Coffee shop gift cards are also favored, capturing 22% of the market.

Phil Rist, Executive Vice President at Prosper Insights & Analytics, noted a shift in how shoppers find gift ideas. “Younger consumers are increasingly turning to social media for inspiration,” he said, with 28% of those aged 18-24 using TikTok, and 27% relying on Instagram. Additionally, this demographic is more inclined to gift jewelry, with 30% planning to do so this year.

Matthew Holloway is a reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.