According to the National Retail Federation, 2024 winter holiday spending in the United States is expected to reach a record $902 per person,* spanning all categories, per a consumer survey conducted by Prosper Insights & Analytics. This amounts $25 per person more than last year’s figure and $16 higher than the previous record set in 2019, the organization adds. Notably, personal care and beauty appear on 25% of consumers' wish lists. This data just scratches the surface. Let's get into the numbers.
Online Growth Picks Up in Holiday Shopping
A recent Coresight Research survey of more than 3,500 U.S. consumers found that total holiday retail sales across all categories are expected to grow by 3.0% year-over-year, while online retail sales to increase by 9.0% year-over-year, a faster rate than 2023.
Per the survey, 52.3% of consumers start shopping for the holidays before November, a notable jump from the 44.3% who did so last year, perhaps an indication of value-seeking.
Holiday Beauty and Personal Care Spending
According to Coresight's data, 32.1%** of shoppers expect to purchase beauty/grooming products and fragrances during this year's holiday season. This is an uptick from the 28.7% who signaled intent in 2023.
Of those shoppers, 9.6% expect to spend more in the categories this year, compared to 7.2% who said the same in 2023.
Top Holiday 2024 Retail Destinations
Per Coresight, 3/5 of consumers are expecting to find gift ideas in brick-and-mortar shops. Their top destinations this season? Walmart, Amazon and Target.
Overall, mass merchandisers, online marketplaces and department stores are top holiday shopping destinations.
That said, 22.3% of consumers surveyed by Coresight are planning on shopping at beauty stores:
- 11.2% are shopping at Ulta standalone stores/9.0% will shop at Ultas within Targets
- 10.1% will shop at standalone Sephora stores/5.8% will shop in Sephoras within Kohl's (16.6% of consumers will be shopping at Kohl's)
*The survey asked 8,191 U.S. adult consumers about their holiday shopping plans in early October 2024.
**U.S. consumers aged 18-plus who expect to spend on the holiday season—2,001 surveyed in October 2024 and 1,520 surveyed in October 2023
