(ZEROHEDGE) – Not all consumers will be increasing their holiday spend this year. In fact, some will be spending less.
Supply chain and inflation challenges may dampen seasonal cheer for some consumers, according to a report from Deloitte. The study forecast that, amid waning pandemic anxiety and stabilizing consumer sentiment, holiday spending will average $1,463 per household, up 5% from 2020 – with higher-income shoppers driving nearly all gains.
Higher-income households are planning to spend five times that of lower-income households, the study found. Higher-income shoppers expect to spend 15% more than last year (averaging $2,624 per household). But lower-income groups plan to spend 22% less (averaging $536 per household).
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