The holiday season is approaching, and with it comes a unique twist this year based on the results of the 2024 presidential election. Many Americans are reevaluating their holiday spending plans based on their political affiliations and their views on the future of the economy.
Supporters of President-elect Donald Trump are feeling optimistic about the economy and are more likely to increase their holiday spending. On the other hand, Vice President Kamala Harris supporters are more cautious and concerned about potential policy changes that could impact the middle class negatively.
This sentiment is reflected in the way people are shopping online, with shipping data showing different patterns in red and blue states. After the election, shipping volumes in GOP-won states increased significantly, while Democrat-won states saw a decrease in shipping volumes. This shift in consumer sentiment is expected to influence holiday spending patterns across the country.
While the election results have provided a sense of certainty for many Americans, inflation remains a concern and is expected to impact holiday spending. Retail sales forecasts indicate that certain categories such as furniture and home furnishings may decline, while apparel and grocery sales are expected to grow.
Despite the overall positive outlook for holiday spending, inflation is dampening the holiday spirit for many consumers. Higher prices are making shopping feel like a burden rather than a joy for some, leading them to reevaluate their holiday spending plans.
As we approach the holiday season, it’s clear that consumer sentiment, political affiliations, and economic factors will all play a role in shaping holiday spending patterns across the country. Whether you’re feeling optimistic about the economy or cautious about the future, the 2024 presidential election results are likely to have a significant impact on how much you end up spending this holiday season.
