With just 2 weeks until Christmas, consumers are making a mad dash to wrap up preparations. So, how much are consumers spending on gifts during the holiday season? And are some segments of the population more likely than others to spend more on gifts?

At Branded, we conducted a poll to find out. Our poll asked users to tell us how much they plan to spend on gifts for Christmas and/or Hanukkah this year. The poll was conducted on December 3, 2018 and 14,614 users responded.

Our research found that about 1 in 10 users do not intend to spend any money on gifts this holiday season. About one-third of users told us they plan to spend money on gifts but will spend less than $200. About 1 in 4 users told us they will spend between $200-$500 on holiday gifts. And about 1 in 5 users told us they plan to spend over $500 on gifts during the holiday season.

Digging deeper into the results, we see that older users are spending more this holiday season than younger users. About 26 percent of the Silent Generation (age 70+) plan to spend over $500 on gifts this holiday season, compared to 24 percent of Baby Boomers (age 51-69), 25 percent of Gen X (age 39-50) and 15 percent of Millennials (age 22-38).

This trend holds true even among high earners. About 62 percent of upscale Silent Generation users with household income over $100,000 intend to spend over $500 on holiday gifts. About 53 percent of upscale Baby Boomers, 48 percent of upscale Gen X and 29 percent of upscale Millennials plan to spend over $500 on holiday gifts.

Our poll also found that women are spending more than men this holiday season across the generations. Not surprising given that women are often responsible for purchasing the majority of the gifts that a household gives. However, this is particularly true among the youngest and oldest consumers. Approximately 16 percent of Millennial women plan to spend over $500 on holiday gifts compared to 12 percent of Millennial men. And about 28 percent of Silent Generation women plan to spend over $500 on gifts compared to 23 percent of Silent Generation men.