Hohoho, no.
Americans are expected to spend an estimated $10.1 billion on unnecessary gifts this holiday season, according to a forecast conducted by a personal finance website.
More than half of American adults, or 53%, or 140 million people, will be disappointed with at least one gift they unwrap in December. Website Finder predicted Based on past research.
And lackluster products aren't just socks or cheap wine. The average spend by Americans on poorly received gifts is estimated to be $72 a pop, up from $66 a year ago, according to the analysis.
When you add up the cost of each pitiful present, adults spend a shocking $10.1 billion on presents that could end up gathering dust in the back of a closet or ending up in a landfill.
About 4 in 10 Americans would re-gift something they received, preferably to someone more grateful.
35% keep the item, 32% exchange or return it, and 27% sell it. Finder predicts that only 16% of people will throw a disappointing gift in the trash, and 12% will be bold enough to return it to the giver.
This analysis also revealed the most common unwanted gifts.
The most unwanted gifts are clothing and accessories, with 43% of unwanted gifts expected to be clothing this year, followed by household items at 33%, cosmetics and fragrances at 26%, and technology at 25%, the study predicts. did.
