In one of those stories that could have been written by The Grinch Who Stole Christmas, a new study has revealed the states spending the most on nonessential purchases at Christmas, with Maine and Michigan topping the ranking.
- Maine is in first place for spending the most money on ‘nonessentials’ at Christmas, with 49.38% of the average income spent on personal purchases
- In second place is Michigan, where residents spend 48.61% of their income on unneeded purchases, and Arizona in third with 48.01%
- South Dakota spends the least on nonessentials, as only 38.27% of the average income is spent on these purchases
Verified coupon site Coupons4Real gathered data from the Bureau of Economic Analysis and the Federal Reserve Economic Data to calculate each state’s spending versus their average annual income. They analyzed the findings to rank the states spending the highest percentage of income on nonessential purchases, which includes all Christmas spending.
Maine tops the ranking, earning first place as residents spend a staggering 49.38% of their income on personal nonessentials, which include Christmas gifts or decorations. This means Maine residents spend an average of $29,840 every year on these unnecessary personal purchases.
In second place is Michigan, where residents spend an average of 48.61% of their yearly salary on unneeded personal purchases. Each Michigan spender spends approximately $27,726 on nonessentials every year.
Third place belongs to Arizona, where spenders splash 48.01% of their average annual income on nonessential personal purchases. This means each Arizonan spends $28,033 on unneeded things every year.
Illinois is in eighth place, where 47.35% of the average salary is spent on unneeded personal purchases every year. In Illinois, the average person spends $32,034 on these types of purchases yearly. In a kind of ‘mixed blessing’, a significant chunk of that spending in the summer months likely flows to tourism right here in Michigan’s Great Southwest!
Panayotis Nikolaidis, CEO and Founder of Coupons4Real, underwriters of the research, commented on the findings: “Americans consistently demonstrate their enthusiasm for the holiday season by dedicating a significant portion of their budgets to non-essential spending, with these insights revealing how different states prioritize their festive budgets.
“From lavish gifts to festive decor and indulgent holiday experiences, Christmas remains a central driver of this discretionary spending. This trend highlights not only the cultural importance of the holidays but also the broader impact of consumer behavior on the economy during this time of year.”
Data courtesy of Coupons4Real https://coupons4real.com
