This year, holiday spending during the Thanksgiving week may hit a record as consumers try to maximize the weekend's deals, according to a 2023 Deloitte Black Friday-Cyber Monday survey.
Spending over the week is expected to jump 13% from last year, with shoppers shelling out $567 on average, Deloitte found.
Half of consumers plan to take on more debt to pay for holiday expenses, another report by Ally Bank found.
That CNBC survey found that 61% of Americans are living paycheck to paycheck, up from 58% in March.
More than one-third of consumers plan to dip into their savings even more to cover holiday spending, LendingClub also found.
Persons:
Barbie, Mario Tama, LendingClub, Alia Dudum
Organizations:
Deloitte, Walmart, Getty, Bank, Ally Bank, CNBC
Locations:
Burbank , California