+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

The 'Grandma's house' holiday tradition is dying - here's where people are gathering instead

Dec 30, 2015, 00:44 IST

Men wearing Father Christmas outfits eat in a fast food restaurant in central London December 12, 2009. REUTERS/Stefan Wermuth

Consumer spending between Thanksgiving and Christmas has revealed a major shift in how people are celebrating the holidays.

Advertisement

Overall, shoppers spent 7.9% more this year than they did in 2014, excluding gas and vehicle purchases - outpacing last year's 5.5% increase, according to MasterCard SpendingPulse data. The data includes purchases made with credit cards, debit cards, cash, and checks.

But shoppers aren't necessarily buying more gifts.

Instead, they are spending more on entertainment and experiences, and particularly on dining out.

Restaurant spending doubled on Christmas day this year compared to last year, according to Sarah Quinlan, senior vice president of market insights for MasterCard Advisors.

Advertisement

"It looks like we didn't go to Grandma's house this year," Quinlan told Business Insider. "Nobody cooked."

NOW WATCH: This new Tesla just broke Consumer Reports' rating scale

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article