November Non-Prime Tracker

If you would like to read the full monthly non-prime tracker report, you can access that data here.

With Thanksgiving in the rear view, America has entered full force into our holiday season. Black Friday ushers in a holiday spending frenzy to get ready for the holidays. The average American spends $700 on holiday gifts and goodies, totaling more than $465 billion. 2020 has been anything but typical, so what does that mean for the holidays? In a report by Deloitte, holiday spending is anticipated to be down by 7% this year. The data from our monthly non-prime tracker tells a similar story.

Prime and non-prime folks alike have been experiencing a decrease in household income since March when the COVID pandemic began. With this trend continuing, this decrease is likely to manifest itself within holiday spending. Less shopping on black Friday, and less holiday travels.

Extraordinary surprise expenses are also on the rise for prime and non-prime Americans. With the holiday season already being an expensive time of year for everyone, these unexpected expenses can have a big impact on families for the holidays.

As the pandemic has continued, daily expenses have become less and less manageable. Budgets may have shifted in the pandemic, with higher grocery bills and lower vehicle expenses. Holiday spending may throw a wrench into these carefully crafted plans.

If you would like to read the full monthly non-prime tracker report, you can access that data here.

Article By:

Jonathan Walker

Jonathan Walker

The average American spends $700 on holiday gifts and goodies.

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