American parents are expected to spend an average of $461 per child's wishlist, but some states like New Jersey anticipate much higher spending at $712 per child.
A staggering 49% of parents admit they plan to go into debt for Christmas shopping, with 65% indicating they cannot pay in cash and will use credit instead.
Despite financial pressures, 25% of parents are still prioritizing 'amazing experiences' for their families this holiday season, showing a desire for meaningful celebrations.
This year, overall holiday spending among Americans is projected to average $1,014, marking a 9% increase over last year's spending due to ongoing inflation.
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