24/7 Wall St.

The vast majority of Americans celebrate Christmas with lights, carols, fir trees and wreaths, as well as, of course, by buying and exchanging gifts. For most people, the celebration means, above all, spending more money. With sales across virtually all retail areas increasing dramatically at the end of the year, the Christmas season is a reliable annual economic boost for many U.S. businesses.

Using a model based on the National Retail Federation holiday spending methodology, 24/7 Wall St. determined how much a person spent on average during the season — in November and December — of each year since 1940. Back then, Americans spent just over $27 billion during the Christmas season, or about $205 per person on average.

Since then, the U.S. population has more than doubled, and spending during the holidays has increased many times over. At a total of $631.7 billion, 2015 holiday spending is the highest on record. The average spending per person over November and December 2015 was almost $2,000, also the highest of any year for which data are available.

Click here to see what American’s spent on Christmas the year you were born.

Gifts, mostly for Christmas, will continue to account for a good chunk of the holiday spending. According to a Gallup poll conducted from November 9-13, 2016 the average American plans to spend approximately $750 on just gifts this holiday season.

For over a decade, U.S. jewelry stores have relied on the holiday season for between 25% and 30% of their annual revenue. Last year, 27.4% of jewelry sales occurred in November and December, the highest percentage of all industries. For reference, with no seasonality whatsoever, the average two months of sales would amount to 16.7% of annual revenue. For the jewelry industry specifically, an average two-month period outside the holiday season almost never brings in more than 15% of the year’s revenue.

To determine Christmas spending in each year, 24/7 Wall St. reviewed consumer spending in November and December published by the U.S. Census Bureau each year from 1992 through 2015. Using a model based on the National Retail Federation holiday spending methodology, we estimated spending levels in each year since 1940. In line with figures published by the NRF, average spending over November and December includes all purchases except spending on restaurants, cars, and gas. Personal income per capita, adjusted for inflation, in each year came from the Bureau of Economic Analysis.

Here is what Americans spent on Christmas each year since 1940.

Source: Wikimedia Commons

1940
> Holiday spending per capita: $205.26
> Personal income per capita: $7,621.53
> Total holiday spending: $27.12 billion
> Population: 132,122,446

Source: Wikimedia Commons

1941
> Holiday spending per capita: $212.94
> Personal income per capita: $8,762.62
> Total holiday spending: $28.41 billion
> Population: 133,402,471

Source: Wikimedia Commons

1942
> Holiday spending per capita: $220.94
> Personal income per capita: $9,975.54
> Total holiday spending: $29.80 billion
> Population: 134,859,553

Source: Wikimedia Commons

1943
> Holiday spending per capita: $228.26
> Personal income per capita: $11,107.73
> Total holiday spending: $31.21 billion
> Population: 136,739,353

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Source: https://www.flickr.com/photos/seattlemunicipalarchives/

1944
> Holiday spending per capita: $234.80
> Personal income per capita: $11,275.21
> Total holiday spending: $32.50 billion
> Population: 138,397,345

Source: Wikimedia Commons

1945
> Holiday spending per capita: $240.95
> Personal income per capita: $11,108.39
> Total holiday spending: $33.72 billion
> Population: 139,928,165

Source: Wikimedia Commons

1946
> Holiday spending per capita: $247.18
> Personal income per capita: $10,680.97
> Total holiday spending: $34.95 billion
> Population: 141,388,566

Source: Wikimedia Commons

1947
> Holiday spending per capita: $251.44
> Personal income per capita: $10,133.64
> Total holiday spending: $36.24 billion
> Population: 144,126,071

Source: Wikimedia Commons

1948
> Holiday spending per capita: $256.52
> Personal income per capita: $10,352.30
> Total holiday spending: $37.61 billion
> Population: 146,631,302

Source: Wikimedia Commons

1949
> Holiday spending per capita: $259.82
> Personal income per capita: $10,134.31
> Total holiday spending: $38.76 billion
> Population: 149,188,130

Source: Wikimedia Commons

1950
> Holiday spending per capita: $263.99
> Personal income per capita: $10,866.39
> Total holiday spending: $40.20 billion
> Population: 152,271,417

Source: Wikimedia Commons

1951
> Holiday spending per capita: $269.52
> Personal income per capita: $11,311.41
> Total holiday spending: $41.74 billion
> Population: 154,877,889

Source: Wikimedia Commons

1952
> Holiday spending per capita: $273.92
> Personal income per capita: $11,645.38
> Total holiday spending: $43.16 billion
> Population: 157,552,740

Source: Wikimedia Commons

1953
> Holiday spending per capita: $278.23
> Personal income per capita: $11,979.42
> Total holiday spending: $44.57 billion
> Population: 160,184,192

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Source: Wikimedia Commons

1954
> Holiday spending per capita: $281.00
> Personal income per capita: $11,788.06
> Total holiday spending: $45.81 billion
> Population: 163,025,854

Source: Wikimedia Commons

1955
> Holiday spending per capita: $285.10
> Personal income per capita: $12,374.17
> Total holiday spending: $47.31 billion
> Population: 165,931,202

Source: https://www.flickr.com/photos/wishbook/

1956
> Holiday spending per capita: $289.17
> Personal income per capita: $12,791.28
> Total holiday spending: $48.84 billion
> Population: 168,903,031

Source: https://www.flickr.com/photos/seattlemunicipalarchives/

1957
> Holiday spending per capita: $292.71
> Personal income per capita: $12,895.04
> Total holiday spending: $50.34 billion
> Population: 171,984,130

Source: Wikimedia Commons

1958
> Holiday spending per capita: $295.78
> Personal income per capita: $12,759.66
> Total holiday spending: $51.73 billion
> Population: 174,881,904

Source: Wikimedia Commons

1959
> Holiday spending per capita: $299.74
> Personal income per capita: $13,134.86
> Total holiday spending: $53.30 billion
> Population: 177,829,628

Source: https://www.flickr.com/photos/usmcarchives/

1960
> Holiday spending per capita: $303.48
> Personal income per capita: $13,327.84
> Total holiday spending: $54.83 billion
> Population: 180,671,158

Source: Wikimedia Commons

1961
> Holiday spending per capita: $306.81
> Personal income per capita: $13,543.76
> Total holiday spending: $56.36 billion
> Population: 183,691,481

Source: Wikimedia Commons

1962
> Holiday spending per capita: $311.18
> Personal income per capita: $14,018.47
> Total holiday spending: $58.05 billion
> Population: 186,537,737

Source: Wikimedia Commons

1963
> Holiday spending per capita: $315.40
> Personal income per capita: $14,349.11
> Total holiday spending: $59.69 billion
> Population: 189,241,798

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Source: Wikimedia Commons

1964
> Holiday spending per capita: $320.68
> Personal income per capita: $14,954.26
> Total holiday spending: $61.53 billion
> Population: 191,888,791

Source: https://www.flickr.com/photos/24736216@N07/

1965
> Holiday spending per capita: $326.91
> Personal income per capita: $15,725.50
> Total holiday spending: $63.52 billion
> Population: 194,302,963

Source: https://www.flickr.com/photos/rich701/

1966
> Holiday spending per capita: $334.04
> Personal income per capita: $16,482.90
> Total holiday spending: $65.66 billion
> Population: 196,560,338

Source: https://www.flickr.com/photos/wishbook/

1967
> Holiday spending per capita: $340.95
> Personal income per capita: $17,060.01
> Total holiday spending: $67.75 billion
> Population: 198,712,056

Source: Wikimedia Commons

1968
> Holiday spending per capita: $349.88
> Personal income per capita: $17,844.56
> Total holiday spending: $70.22 billion
> Population: 200,706,052

Source: Wikimedia Commons

1969
> Holiday spending per capita: $359.30
> Personal income per capita: $18,515.65
> Total holiday spending: $72.82 billion
> Population: 202,676,946

Source: https://www.flickr.com/photos/flissphil/

1970
> Holiday spending per capita: $367.57
> Personal income per capita: $18,886.84
> Total holiday spending: $75.37 billion
> Population: 205,052,174

Source: Wikimedia Commons

1971
> Holiday spending per capita: $375.72
> Personal income per capita: $19,285.78
> Total holiday spending: $78.02 billion
> Population: 207,660,677

Source: https://www.flickr.com/photos/ocarchives/

1972
> Holiday spending per capita: $386.74
> Personal income per capita: $20,260.49
> Total holiday spending: $81.18 billion
> Population: 209,896,021

Source: https://www.flickr.com/photos/91591049@N00/

1973
> Holiday spending per capita: $400.37
> Personal income per capita: $21,178.63
> Total holiday spending: $84.84 billion
> Population: 211,908,788

Source: Wikimedia Commons

1974
> Holiday spending per capita: $413.86
> Personal income per capita: $20,857.00
> Total holiday spending: $88.50 billion
> Population: 213,853,928

Source: https://www.flickr.com/photos/rbh/

1975
> Holiday spending per capita: $427.73
> Personal income per capita: $20,854.84
> Total holiday spending: $92.38 billion
> Population: 215,973,199

Source: https://www.flickr.com/photos/sillysocks/

1976
> Holiday spending per capita: $443.13
> Personal income per capita: $21,468.61
> Total holiday spending: $96.62 billion
> Population: 218,035,164

Source: https://www.flickr.com/photos/jill_carlson/

1977
> Holiday spending per capita: $460.63
> Personal income per capita: $22,037.29
> Total holiday spending: $101.45 billion
> Population: 220,239,425

Source: Wikimedia Commons

1978
> Holiday spending per capita: $482.59
> Personal income per capita: $22,903.66
> Total holiday spending: $107.42 billion
> Population: 222,584,545

Source: Thinkstock

1979
> Holiday spending per capita: $505.69
> Personal income per capita: $23,251.67
> Total holiday spending: $113.81 billion
> Population: 225,055,487

Source: https://www.flickr.com/photos/sillysocks/

1980
> Holiday spending per capita: $531.62
> Personal income per capita: $23,191.50
> Total holiday spending: $120.80 billion
> Population: 227,224,681

Source: Wikimedia Commons

1981
> Holiday spending per capita: $561.40
> Personal income per capita: $23,619.05
> Total holiday spending: $128.82 billion
> Population: 229,465,714

Source: Wikimedia Commons

1982
> Holiday spending per capita: $582.27
> Personal income per capita: $23,733.42
> Total holiday spending: $134.89 billion
> Population: 231,664,458

Source: https://www.flickr.com/photos/sillysocks/

1983
> Holiday spending per capita: $604.22
> Personal income per capita: $24,094.68
> Total holiday spending: $141.26 billion
> Population: 233,791,994

Source: https://www.flickr.com/photos/jeepersmedia/

1984
> Holiday spending per capita: $638.35
> Personal income per capita: $25,429.90
> Total holiday spending: $150.54 billion
> Population: 235,824,902

Source: Wikimedia Commons

1985
> Holiday spending per capita: $665.04
> Personal income per capita: $26,083.38
> Total holiday spending: $158.23 billion
> Population: 237,923,795

Source: Wikimedia Commons

1986
> Holiday spending per capita: $689.13
> Personal income per capita: $26,802.49
> Total holiday spending: $165.48 billion
> Population: 240,132,887

Source: Wikimedia Commons

1987
> Holiday spending per capita: $715.59
> Personal income per capita: $27,371.67
> Total holiday spending: $173.38 billion
> Population: 242,288,918

Source: Thinkstock

1988
> Holiday spending per capita: $751.04
> Personal income per capita: $28,221.60
> Total holiday spending: $183.63 billion
> Population: 244,498,982

Source: Wikimedia Commons

1989
> Holiday spending per capita: $788.71
> Personal income per capita: $28,956.46
> Total holiday spending: $194.67 billion
> Population: 246,819,230

Source: https://www.flickr.com/photos/wishbook/

1990
> Holiday spending per capita: $819.80
> Personal income per capita: $29,163.31
> Total holiday spending: $204.51 billion
> Population: 249,464,396

Source: https://www.flickr.com/photos/26531284@N02/

1991
> Holiday spending per capita: $838.83
> Personal income per capita: $28,886.92
> Total holiday spending: $211.51 billion
> Population: 252,153,092

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Source: Wikimedia Commons

1992
> Holiday spending per capita: $1,056.47
> Personal income per capita: $29,687.78
> Total holiday spending: $269.43 billion
> Population: 255,029,699

Source: https://www.flickr.com/photos/jdhancock/

1993
> Holiday spending per capita: $1,116.09
> Personal income per capita: $29,904.63
> Total holiday spending: $287.71 billion
> Population: 257,782,608

Source: https://www.flickr.com/photos/15157516@N02/

1994
> Holiday spending per capita: $1,184.32
> Personal income per capita: $30,489.53
> Total holiday spending: $308.31 billion
> Population: 260,327,021

Source: https://www.flickr.com/photos/24736216@N07/

1995
> Holiday spending per capita: $1,216.51
> Personal income per capita: $31,300.76
> Total holiday spending: $319.70 billion
> Population: 262,803,276

Source: Wikimedia Commons

1996
> Holiday spending per capita: $1,249.77
> Personal income per capita: $32,234.53
> Total holiday spending: $331.47 billion
> Population: 265,228,572

Source: Wikimedia Commons

1997
> Holiday spending per capita: $1,291.51
> Personal income per capita: $33,332.75
> Total holiday spending: $345.85 billion
> Population: 267,783,607

Source: Thinkstock

1998
> Holiday spending per capita: $1,357.30
> Personal income per capita: $35,151.88
> Total holiday spending: $366.81 billion
> Population: 270,248,003

Source: Thinkstock

1999
> Holiday spending per capita: $1,455.29
> Personal income per capita: $36,117.27
> Total holiday spending: $396.84 billion
> Population: 272,690,813

Source: Thinkstock

2000
> Holiday spending per capita: $1,453.36
> Personal income per capita: $36,821.87
> Total holiday spending: $410.08 billion
> Population: 282,162,411

Source: Thinkstock

2001
> Holiday spending per capita: $1,475.35
> Personal income per capita: $37,236.72
> Total holiday spending: $420.43 billion
> Population: 284,968,955

Source: Thinkstock

2002
> Holiday spending per capita: $1,474.70
> Personal income per capita: $37,061.47
> Total holiday spending: $424.16 billion
> Population: 287,625,193

Source: Thinkstock

2003
> Holiday spending per capita: $1,530.86
> Personal income per capita: $37,358.69
> Total holiday spending: $444.12 billion
> Population: 290,107,933

Source: Thinkstock

2004
> Holiday spending per capita: $1,613.43
> Personal income per capita: $38,274.14
> Total holiday spending: $472.42 billion
> Population: 292,805,298

2005
> Holiday spending per capita: $1,690.32
> Personal income per capita: $38,929.52
> Total holiday spending: $499.52 billion
> Population: 295,516,599

Source: Wikimedia Commons

2006
> Holiday spending per capita: $1,735.11
> Personal income per capita: $40,310.66
> Total holiday spending: $517.72 billion
> Population: 298,379,912

Source: Wikimedia Commons

2007
> Holiday spending per capita: $1,755.80
> Personal income per capita: $41,026.11
> Total holiday spending: $528.90 billion
> Population: 301,231,207

Source: Wikimedia Commons

2008
> Holiday spending per capita: $1,658.25
> Personal income per capita: $41,086.24
> Total holiday spending: $504.27 billion
> Population: 304,093,966

Source: Thinkstock

2009
> Holiday spending per capita: $1,649.16
> Personal income per capita: $39,426.08
> Total holiday spending: $505.92 billion
> Population: 306,771,529

Source: Thinkstock

2010
> Holiday spending per capita: $1,709.81
> Personal income per capita: $39,677.81
> Total holiday spending: $528.93 billion
> Population: 309,346,863

Source: Thinkstock

2011
> Holiday spending per capita: $1,771.34
> Personal income per capita: $40,826.78
> Total holiday spending: $552.16 billion
> Population: 311,718,857

Source: Thinkstock

2012
> Holiday spending per capita: $1,801.55
> Personal income per capita: $41,745.86
> Total holiday spending: $565.87 billion
> Population: 314,102,623

Source: Wikimedia Commons

2013
> Holiday spending per capita: $1,831.24
> Personal income per capita: $41,361.52
> Total holiday spending: $579.46 billion
> Population: 316,427,395

Source: Wikimedia Commons

2014
> Holiday spending per capita: $1,913.06
> Personal income per capita: $42,545.92
> Total holiday spending: $610.09 billion
> Population: 318,907,401

Source: Thinkstock

2015
> Holiday spending per capita: $1,965.37
> Personal income per capita: $43,909.15
> Total holiday spending: $631.71 billion
> Population: 321,418,820