You Won't Believe How Much Shoppers Will Spend on Gifts This Holiday Season

With Thanksgiving just around the corner, the holiday shopping season is officially upon us. Whether your plan is to hit the insane Black Friday sales or to wait until the last minute (hey, no judgment here!), the holidays are always a huge boost for the American shopping economy.

WWD reports that according to marketing firm Criteo, this holiday shopping season is slated to be bigger than ever. Criteo's research predicts that American shoppers will spend a whopping $630 billion on holiday shopping this year, with a full $105 billion of that being spent online on various devices. 

In terms of per-person spending, the National Retail Federation predicts that this year, the average shopper will spend $805 on holiday gifts. That's a lot of moolah—nearly a grand in an economy where the average American household income in 2014 was just under $54,000

In laywoman's terms, Americans are set up to spend a ton of cash this holiday shopping season. We want to know: What's your budget for holiday gifts this year? Share in the comments below, and shop some of our favorite current gift ideas, too!