We’re breaking down the most and least expensive gift categories with UMD’s Bureau of Business and Economic Research Director.
UMD’s Bureau of Business and Economic Research is looking into how this holiday shopping season will go.
Director Monica Haynes says U.S. shoppers are feeling more optimistic and plan to spend 8% more than last year.
Haynes said buying power has improved over the last year with inflation back to pre-pandemic levels.
She broke down a few common gifting categories in which prices have gone up or down.
Least affordable gifts:
- Apparel: +2.6%
- Jewelry: +6.5%
- Photography equipment: +10.1%
- Sports tickets: +15.1%
Most affordable gifts:
- Sporting goods: -2.5%
- Computers/electronics: -5.7%
- Toys/games: -6.3%