Expected reduction in holiday season spending 2022, by country
The rising cost of living and inflation rate worldwide have had a considerable impact on shopping behavior. A recent survey suggests that consumers' holiday season spending could see reductions during the busiest time in retail. In the United States, it is projected that spending cuts will reach as high as 30.6 billion U.S. dollars this holiday season. In Germany, consumers were less reluctant to cut back on their holiday season spending, with spending forecast to see a decrease of only two billion U.S. dollars.
