According to the American Research Group, the average American will spend $854 dollars on Christmas this year – a 32 percent increase on last years’ amount.
Recently, a recent poll of UVU students showed how much they plan on spending for Christmas and why.
“I’m spending $50 on gifts this year because I love my family, duh,” freshman Nick Varney said.
Two married students, senior Emily Bennett and junior Robert Bennett, said they are spending $600 this year on gifts. Now that they are married, they are buying presents for each other, parents, in-laws and siblings for both families.
Junior student Karlee Hutcheson is spending $250 this year on her friends and family.
Another student, freshman Kyle Durham, said he is planning on spending $120 on gifts in 2012.
“I’m buying presents for my brothers, sisters, parents, nieces, nephews and possibly myself,” Durham said.
As of Nov. 15, 40 percent of Americans have already started their Christmas shopping, according to ARG. Fifty-four percent of Americans said they wait for the sales to buy their presents.
Discounts were apparent on Black Friday this year. Some UVU students took full advantage of the sales, as retailers enticed shoppers with door busters deals on Thanksgiving night and on early Friday morning.
On average, the amount spent on Black Friday went up 5.6 percent over last year, and the dollar amount spent went up 1.9 percent, meaning that more Americans purchased on Black Friday and spent more money per transaction.
Students seem to be doing what they can with the funds they have available, and for many, gifts for loved ones are a priority as always.