The tradition of Christmas gift-giving in the United States has evolved into a multi-billion dollar phenomenon, with data over the past two decades revealing a nearly twofold increase in overall spending since 2003.
Despite a dip during the 2008 financial crisis, the National Retail Federation (NRF) projects a 3 to 4 percent growth in 2023, forecasting total holiday spending to reach at least $937 billion. Contrastingly, back in 1950, holiday spending stood at $40.2 billion, adjusting for inflation and population growth. However, the shift towards year-round shopping and increased reliance on credit cards has transformed gift-giving into a perpetual pursuit, emphasizing materialism over meaningful connections.
Advocates suggest reflecting on the simplicity and purposefulness of past generations’ gifts to rekindle the true spirit of the season.
Reporting for WGRT – Choze Powell
