Holiday spending to rise, with millennial dads among most generous

Consumers are preparing for more spending this holiday season.
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Americans of all ages are expected to spend more over the holidays, splashing out almost $1,200 on average.

That's the prediction of PriceWaterhouseCoopers, whose annual 2017 Holiday Outlook says consumers will spend 6 percent more than they did last year.

That's right, the average consumer is preparing to fork out $1,189 over the holidays, with the highest spending coming from households earning $60,000 and more which will splurge on apparel, gift cards, toys and electronics.

Among the other findings of the survey is that despite the inexorable rise of internet shopping, some 88 percent of consumers will still shop in brick-and-mortar stores this holiday, with 84 percent saying they will shop online.

And if you're wondering what to get your millennial sibling/partner/child for Christmas, most millennials say they want "experiences rather than tangible gifts," preferably from "socially and environmentally responsible retailers."

Other interesting findings include that almost 20 percent of consumers say they'll use their smartphones to pay for in-store purchases, with tech-savvy younger Generation Z consumers (aged 13-16) the most likely to buy things this way.

Millennial dads will be ultra-generous

If you're looking to be spoiled these holidays, cozy up to any millennial-aged dads that you know.

That's because 94 percent of them are planning on spending the same or more money than they did during last year's holidays.

What's more, they're most likely to spend more money on their families (63 percent of all spending compared to 57 percent average) than they are on themselves (24 percent vs. 30 percent).

In terms of gifts, around half say they'll be spending more on personal electronics than last year, with 45 percent spending more on toys and 34 percent splashing out more on home electronics.

If they're feeling particularly generous and see a good year-end deal, 25 percent say they'll consider buying a new family car.

They'll also be more likely to spend on travel than any other age groups, mostly because young families are more likely to "head home" for the holidays.

But if you're buying for millennial dads (and I'm dropping a big HINT to my wife and parents here), millennial dads aren't particular fans of giving or receiving gift cards, preferring instead to receive tangible gifts.

They're also likely to give the most to charity this holiday season. They really are all-round good guys.

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