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Photo: iStock
Thanks to inflation, 60% of Americans are cutting back on their holiday spending and shopping lists this year, new research shows. But that doesn’t mean they’ve lost the spirit of giving, especially for their pets.
The new survey from Personal Capital also revealed that average Christmas spending is down by about $200 or 23% lower than last year. 34% of surveyed will be buying a present for their dog, while 22% will be getting their cat a gift, but only 19% say they’re purchasing presents for their in-laws.To be fair, there are quite a few pets that are FAR better behaved than some of the in-laws out there!
One other part of this survey stuck out. Interestingly, Gen Z seems to be prepared for the lower per-person gift spending. A quarter of the members of Gen Z surveyed plan on doing DIY gifts this year, which is a fantastic workaround for having less money to spend on gifts.
What do you think? Are you planning on buying your in-laws a gift, your pets a gift, or both?