Heading into the season of giving, many Americans are burnt out on buying gifts for their loved ones.
Some 60% of U.S. adults say gift culture has gotten “out of hand” and 48% say they’ve experienced “gift fatigue,” according to a recent survey of over 2,200 adults by financial services company Empower. Price also appears to be an issue: 75% of respondents say gifts have gotten more expensive with inflation and tariffs.
“We’re seeing a no-gifts trend emerge alongside broader signs of cautious consumerism. People are trimming nonessential spending, planning ahead and setting limits,” Rebecca Rickert, head of consumer insights at Empower, tells CNBC Make It. “Gifting has always been a discretionary category and when pricing pressures linger, it’s one of the first areas where consumers pull back.”
While some Americans are cutting back on gift giving, half say they feel pressured to spend a certain amount, Empower finds. Another 50% of respondents say they don’t know the “right” amount to give.
Empower asked survey respondents how much they estimate spending on gifts for various occasions. Here are the average amounts:
