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Zoomers give the cheapest Christmas gifts while millennials spend a whopping $300 on six people, research shows

THE average American will spend $322.65 on holiday gifts this year for six different people, new research indicates.

A recent survey of 2,000 U.S. adults revealed millennials plan to spend the most so far with an average budget of $331.45 — almost $12 more than boomers and Gen X.

Meanwhile, Generation Z is planning to spend almost $110 less ($219.75, on average), and will exchange gifts with two fewer people than respondents from other age groups.

Commissioned by OnePoll on behalf of Omaha Steaks, the survey also found that 64% of respondents are rethinking how they’ll go about gifting this holiday season.

Sixty percent of respondents, for example, said they plan to do the bulk of their shopping online, sending their gifts directly to recipients rather than delivering it themselves.

“This trend makes perfect sense given what an unusual holiday shopping season this is,” said Todd Simon, fifth-generation family owner of Omaha Steaks.

“Having a gift shipped directly to a loved one is already practical and convenient, but now it also demonstrates a lot more care for the recipient’s health and safety.”

In addition, less than half of those polled (47%) still plan on exchanging their gifts in person while 40% are planning a socially distanced holiday party.

Typically, those polled admitted that they’ve disliked about 17% of the presents they receive during the holiday season, translating roughly to one out of every six gifts.

Generation Z respondents were especially discerning, disliking one out of every four (26%) gifts they’ve received in the past — almost 19% more than boomers, who only disapprove of one out of every 14 (7%).

While this year is different for many Americans, 66% of millennials — and the same number of Generation X — said the gifts they plan on giving will be more heartfelt than ever before.

And while gift cards reign supreme among gift-givers (51%) and receivers (52%) alike, four in 10 (39%) Americans also said that this year, they’d rather receive food as a gift instead of an object.

TOP 10 GIFTS PEOPLE WILL BUY THIS YEAR
Gift card (51%)
Clothing (43%)
Fashion accessories (36%)
Household items (35%)
Food/drink (25%)
Smartphone accessories (25%)
Computer accessories (25%)
Books (23%)
Other (18%)
Exercise equipment (16%)
(*Respondents were asked to select all that apply)

TOP 10 GIFTS PEOPLE WANT THIS YEAR
Gift card (52%)
Clothing (40%)
Household items (37%)
Fashion accessories (33%)
Smartphone accessories (28%)
Computer accessories (26%)
Food/drink (24%)
Books (22%)
Exercise equipment (20%)
Other (10%)
(*Respondents were asked to select all that apply)

“Now, more than ever, the holidays are about making memories and enjoying connections with family and friends,” Simon noted.

“By sending delicious gifts of specialty food and meals, you’re giving someone an experience they can share.

"What a perfect way to capture the magic of the season even if you can’t be there to celebrate in person.”

Out of all the age groups polled, millennials were also most likely to prefer a food-based gift (43%) and are most likely to be planning a socially distanced holiday celebration (55%).

“They are the ‘foodie’ generation, after all,” Simon added.

Research reveals which generation will be spending the LEAST this holiday season

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