Yahoo Finance See How Much the Average American Is Spending on Labor Day 2024
What does the typical spending forecast look like for Americans this Labor Day weekend?
While we’re still a few weeks out from Labor Day weekend — with Labor Day falling on Monday, September 2, this year — key findings from a GOBankingRates’ May 2024 survey reveals more than half of Americans have budgeted not to spend more than $100 during Labor Day weekend.
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How Much Will the Average American Spend This Labor Day?
When asking a sample size of 999 Americans that have plans to celebrate Labor Day weekend how much money they would spend, a combined 57% of respondents said they would spend between $0 to $99.
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This is the highest percentage out of all summer holidays mentioned in the survey, as previous combined responses for keeping budgets between $0 to $99 were at 52% for those celebrating Memorial Day weekend and 47% for Fourth of July celebrators.
Within that combined 57%, 35% said they did not plan to exceed a budget of $50 for Labor Day weekend. Twenty-two percent of Americans said their plans were to keep Labor Day spending between $51 to $99.
Who’s Budgeting For Labor Day Weekend?
Staying within $50 as maximum spending for Labor Day is top-of-mind for older Americans this year. Among the generations planning to spend $50 or less, the highest percentages belonged to ages 55 to 64 (43%) and ages 65 and over (44%).
Women are also more likely to budget for no more than $50 spent than men. Forty percent of women planning to celebrate Labor Day said they would keep their spending within $50 compared to men at 28%.
The Number One Thing Labor Day Shoppers Are Buying This Year
Following in the footsteps of our previous results on Memorial Day and Fourth of July top spending for 2024, food, at 79% for overall Americans, emerged as the number one thing shoppers will be buying during Labor Day weekend 2024.
Let’s check out the percentage breakdown for every age range:
Ages 18 to 24: 63.44%
Ages 25 to 34: 66.67%
Ages 35 to 44: 77.33%
Ages 45 to 54: 84.07%
Ages 55 to 64: 93.33%
Ages 65 and over: 91.92%
And while they’re somewhat more distant runners-up, outdoor essentials, at 26%, are the second-highest shopping priority for Americans. These include grills, patio furniture and lighting, which many Americans will be searching for good deals on during Labor Day weekend.
Clothing, at 23%, landed in third place. The end of summer is fast approaching and that means steep sales will be here before you know it on summertime apparel.
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This article originally appeared on GOBankingRates.com: See How Much the Average American Is Spending on Labor Day 2024
