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In 2022, consumers in the United States expected to spend approximately 870 U.S. dollars on Christmas gifts on average. This is a slight decrease compared to the previous year.
Holiday shopping
The Christmas or holiday season is the single most critical sales period of the year for many retailers: this period includes days, such as Black Friday and Cyber Monday, and an increasing amount of Americans also shop online during this busy time. With so many consumers actively spending and buying for the holidays, it comes to no surprise that roughly 90 percent of retailers in the United States participated in these two shopping events in 2021.
Gift cards and vouchers
Christmas is a public holiday in the United States and is celebrated on December 25th each year. It is known as a big economic stimulus for many people to purchase Christmas gifts for their beloved family and friends. After Christmas and New Year’s Eve, retail sales often peak again in January as many people redeem their received Christmas gift cards and vouchers. In fact, roughly three-quarters of U.S. consumers planned to buy gift cards or gift certificates for others. It is a popular gifting option, with many Americans indicating that it can be very convenient.
According to a survey conducted in December 2022, A Charlie Brown Christmas is the most loved Christmas film in the United States. It was followed closely by It's a Wonderful Life, and How the Grinch Stole Christmas.
As with the majority of consumer goods in 2022, the cost of a traditional Christmas dinner was also impacted by the high levels of inflation seen around the world.
Inflation in the UK
The global inflation crisis had a particularly strong impact on the United Kingdom in 2022. A cost-of-living crisis fueled in part by inflation began in 2021 and was only exasperated by the COVID-19 pandemic, the Russian invasion of Ukraine, and post Brexit trade. The CPI inflation rate of the UK reached a decades-long high in October 2022, with UK households seeing a dramatic decline in their purchasing power.
Christmas shopping behavior
UK consumers expected inflation to have a significant impact on their holiday shopping in 2022. One poll found that just over 40 percent of UK consumers intended to cut all expenses related to Black Friday and Christmas spending. With shoppers scaling back their purchases, it's good to know that the majority of gift-getters are happy to receive socks as a Christmas present.
Instagram’s most popular post
As of December 2022, the most popular post on Instagram was Lionel Messi and his teammates after winning the 2022 FIFA World Cup with Argentina, posted by the account @leomessi. Messi's post, which racked up over 61 million likes within a day, knocked off the reigning post, which was 'Photo of an Egg'. Originally posted in January 2021, Photo of an Egg surpassed the world’s most popular Instagram post at that time, which was a photo by Kylie Jenner’s daughter totaling 18 million likes. After several cryptic posts published by the account, World Record Egg revealed itself to be a part of a mental health campaign aimed at the pressures of social media use.
Instagram’s most popular accounts
As of February 2022, the official Instagram account @instagram had the most followers of any account on the platform, with 470.23 million followers. Portuguese footballer Cristiano Ronaldo (@cristiano) had 401.2 million followers, and Kylie Jenner (@kyliejenner) had 309.6 million, whilst Paris Saint-Germain F.C. striker Lionel Messi (@leomessi) had a total of 306.5 million. Celebrities such as The Rock, Selena Gomez, and Ariana Grande all had over 290 million followers each.
Instagram influencers
In the United States, the leading content category of Instagram influencers was lifestyle, with 15.25 percent of influencers creating lifestyle content in 2021. Music ranked in second place with 10.96 percent, followed by family with 8.24 percent. Having a large audience can be very lucrative: Instagram influencers in the United States, Canada and the United Kingdom with over 90,000 followers made around 1,221 US dollars per post.
Instagram around the globe
Instagram’s worldwide popularity continues to grow, and India is the leading country in terms of number of users, with over 230 million users as of January 2022. The United States had 159.75 million Instagram users and Brazil had 119.45 million users. The social media platform was also very popular in Indonesia and Russia, with 99.15 and 63, respectively. As of October 2021, Instagram was the fourth most popular social network in the world, behind Facebook, YouTube and WhatsApp.
Netflix show "Wednesday" was the most in-demand digital original show in the United States, with an expression over 67 times higher than the average title in mid-December of 2022. In second place was "Stranger Things," with a difference from the average market of around 59 times.
Nearly 2.9 million refugees from Ukraine due to the Russian invasion were recorded in Russia as of October 3, 2022. Furthermore, over 1.5 million were reported to have fled to Poland as of December 6, 2022. In total, over 7.8 million Ukrainian refugees were registered across Europe. Most of them fled the country by crossing the border with Poland.
Ukrainian refugees in Germany
As of November 22, 2022, more than one million refugees from Ukraine were recorded in Germany. The majority of Ukrainian refugees in the country have been registered in March and April 2022. At the end of April 2022, more than 610 thousand refugees were officially counted by the authorities. Germany had the highest monthly financial allowance for Ukrainians who fled the war compared to other European countries.
Temporary protection for Ukrainian refugees in the EU
European Union (EU) members implemented the Temporary Protection Directive (TPD), which guaranteed access to accommodation, welfare, and healthcare to refugees from Ukraine. People fleeing the war had a right to a residence permit in the EU, enter the labor market, and enroll children in educational institutions. The protection was granted for one year from the start of the war in February 2022, but it could be extended in the future depending on the situation in the country. Poland, Germany, and Czechia had the most people registered for temporary protection in the EU.
On December 9, 2022, the largest volume of Russian crude oil shipments went to China, at 80 million metric tons per day, based on a 30-day running average. Since the beginning of 2022, the shipments to the European Union (EU) and the United States have decreased significantly. Both the EU and the U.S. imposed sanctions on oil imports from Russia in response to the invasion of Ukraine in 2022. The EU banned seaborne crude oil imports starting from December 5, 2022, while the U.S. banned all imports of oil and petroleum products from Russia on March 8, 2022. Existing deals had to be ended by April 22, 2022. Furthermore, the G7, the EU, and Australia imposed a price cap of 60 U.S. dollars per barrel from December 5, 2022, to reduce Russia's energy export revenue, which is one of its largest sources of income.
Which countries started buying more oil from Russia?
Faced with Western sanctions on Russian oil, Russia increased crude oil shipments to China, India, Turkey, Egypt, and the United Arab Emirates. In fact, China contributed the most to Russia's oil export revenue in the first nine months of the war in Ukraine, at approximately 39 billion euros. However, the oil price ceiling imposed in December 2022 could make it more difficult for Russia to export to non-Western countries too. This is because the policy also applies to tankers that belong to the sanctioning countries, as well as those insured or financed by them. For instance, Russian oil cannot be transported to Turkey for a price above the market cap if it is insured by EU or United Kingdom (UK) companies.
How much does Russia earn from oil exports?
Crude oil has traditionally been the main source of fuel and energy export revenue of Russia, accounting for around 43 percent of the total. Between February 24 and December 7, 2022, Russia earned 157.5 billion euros from oil exports, including crude oil and refined products. Over the same period, EU countries paid around 68 billion euros for Russian oil, which was more than the amount spent on fossil gas and coal combined.
The retail trade revenue of consumer goods in China amounted to around 4.03 trillion yuan in October 2022. This indicated a 0.5 percent decrease in revenue compared to the same period the pervious year.
Throughout 2022, the United Kingdom has experienced a wave of industrial disputes, resulting in around 356,000 working days lost due to labor disputes in August 2022. Although this fell to 209,000 days in September there were a further 417,000 working days lost in October, the most in a single month since November 2011. A multitude of further strikes are planned for the winter across a variety of sectors, including among transport, health and education workers.
Brazilian app 99, formerly known as 99 Táxi, had surpassed 100 million downloads on Android devices by the end of 2022. Food delivery apps iFood and Rappi surpassed each 50 million downloads on the Google Play Store. Meanwhile, Uruguay-based PedidosYa also figures among the most popular disruptive mobility Latin American apps, with more than ten million unique installs. Other popular delivery apps in Latin America include SinDelantal, Jüsto, and Yummy Delivery.
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