Santa might be trading in his reindeer for bulls this year.
CNBC's All-America Survey shows Americans plan to spend $702 this holiday season, or 4.4 percent more than what they told us they planned to spend last year. It's also above the 3.6 percent growth rate the National Retail Federation is forecasting for holiday sales.
Retailers can thank the men, the middle class and the middle age for spending more.
Men say they will spend 15 percent more this year than what they told us they would spend in 2015. They also are fulfilling a stereotype that they wait until last minute to start their holiday shopping, with 37 percent of men say they haven't started buying holiday gifts yet, compared with just over a quarter of women who say the same.
Americans with incomes between $50,000 and $75,000 plan to spend 28 percent more than last year, while U.S. consumers between 50 and 64 years old plan to spend more than a third more than what they told us they would spend a year ago.
CNBC asked for consumers' top two places to shop out of eight different types of retail formats this holiday season, and online is the number one destination at 40 percent. Not so surprising given the reports of record online sales that some retailers have disclosed, but that's the highest level this category has eve achieved in CNBC All-America Economic Survey history, a slight uptick from the last two years.
But department stores like Macy's, fall to the number four spot, reaching a new low on our survey. Locally-owned, non-chain stores edged department stores out of the number three spot this year.