NEW YORK — A new survey estimates that Americans will spend over $24 billion in total on their gifts this year — and many of those gifts will be part of Secret Santa or White Elephant exchanges.
The poll of 2,000 adults who celebrate Christmas reveals that 84 percent participate in gift exchanges during the holiday season — 54 percent participate in Secret Santas and 48 percent in White Elephants.
Gift exchanges are extremely popular among younger generations. Nearly all Gen Z respondents say they were participating in an exchange this year (98%), closely followed by millennials (72%). Meanwhile, 45 percent of Gen X and 50 percent of baby boomers were either not participating or just weren’t sure.
Commissioned by home discount retailer, Big Lots, and conducted by OnePoll, the survey finds that throughout the holiday season, participants say they plan to participate in an average of six different gift exchanges this year and spend $88 overall for all of their gift exchanges.
Over three-quarters (77%) say they like participating in gift exchanges and will spend 11 hours shopping for the right gift, with 80 percent shopping in person and 74 percent shopping online.
Across generations, Gen Zers do most of their shopping in person (92%), while baby boomers do the least amount of in-person shopping (70%). When it comes to the recipients of these gift exchanges, participants say they were likely to exchange with their extended family (68%), friends (64%), and co-workers (53%). Twelve percent even participate in gift exchanges with strangers they meet in online communities.
Three in four will face budget limits on gift exchanges this year, averaging $49 per exchange, but 87 percent admit they’ll likely go past the limit. Seven in 10 (73%) say they already know where they’re going to shop for gift exchanges this year — 49 percent prefer to shop at places that can offer products at discounted prices.
However, when they find the perfect gift for someone, 52 percent are likely to shop around to try and find it for a better price somewhere else. Only a third (32%) will buy it there on the spot.
“Whether it’s parents buying presents for their kids or a Secret Santa gift exchange between coworkers, there’s an innate desire within all of us to find the perfect gift for everyone on our holiday shopping lists,” says spokesperson John Alpaugh, SVP, marketing at Big Lots, in a statement. “For many, having the ability to shop for everyone in a one stop, bargain-filled shop makes finding the perfect gifts even easier and more convenient.”
Survey methodology:
This random double-opt-in survey of 2,000 Americans who celebrate Christmas and are planning to participate in a gift exchange this year was commissioned by Big Lots between November 8 and November 9, 2023. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).
