Americans ramped up spending during the holidays despite some financial anxiety and higher costs
at the cash register.
Americans still managed to spend more on holiday-related purchases this year than in 2019. Online sales, in particular, experienced a surge in activity during the holidays, as many consumers opted out of shopping in physical locations to avoid crowds and public health risks. Gains in online spending and claims of lower unemployment rates boosted holiday sales in 2020. Consumers purchased goods ranging from toys and electronics to apparel and jewelry, suggesting that despite some financial anxiety, many consumers were willing to splurge on the holidays.