Spending by affluent Americans on holiday gifts is set to grow 4% to $23 billion, with retail and restaurant gift cards, tickets to an event, or a book topping the wish list, according to new research from American Express Publishing and Harrison Group.
“What brands and retailers really have to focus on are the gifts that people are giving to their spouses, to their daughters, to their sons; that’s where the majority of the dollars are going to be spent,” said Cara David of Amex Publishing.
Of those surveyed, some 75% said they feel very successful in career and life, up from 45% in 2007.