Americans spent about $531.8 billion at retailers in December 2022, according to the Census Bureau’s Monthly Retail Trade Report. This amounts to about $1,600 per person and $3,800 per family.
These expenditures followed approximately $486.2 billion spent in the same sector in November of the same year.
December 2022 was the month with the highest spending from 1992 to 2022. November was the second month with the highest spending each year, except for 2008, 2014, and 2022.
According to Census data, retail spending in December has increased in most years since the financial crisis of 2008. When adjusted for inflation to December 2022 dollars, Americans spent 20% more on retail shopping in December 2022 compared to December 2012, and 61% more than in December 1992.
Toys, the highest spending
Americans spent about $2.9 billion at toy and game stores in December 2022, according to Census data. This month accounted for 13.4% of all spending at these stores in 2022.
How many year-end purchases happen online?
Another interesting fact from the Census is that e-commerce retail sales grew during the pandemic and remained above pre-pandemic levels. Quarterly data from the Census Bureau shows that holiday spending (defined in this case as spending during the fourth quarter) followed the same trend. In the fourth quarter of 2019, about 15% of retail sales, excluding automobiles, occurred online. In 2020, this number rose to over 20%, and the rates remained at similar levels in 2021 and 2022.
Source: USA Facts