Nearly 1 in 5 people willing to pay $200 or more for their Christmas tree, survey finds
Although consumers are paring back their spending this holiday season, many won't give up the luxury of having a real Christmas tree.
According to a recent survey by Trees.com, over half of Americans that plan to celebrate Christmas plan on cutting down on their spending, including putting a budget on gifts, as a result of elevated inflation, which rose 7.7% in October from a year earlier.
However, 7% more Americans will buy a real tree this year compared to a year ago even with elevated costs.
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Nearly one in five people said they are also willing to pay $200 or more for their tree.
File: A family picks out their Christmas tree at Hansen Tree Farm in Ramsey, Minn in 2016. (Photo by Jerry Holt/Star Tribune via Getty Images)
Tim O' Connor, executive director of the National Christmas Tree Association, told FOX Business that real trees have become a "central part" of holiday décor for Christmas despite the economic environment.
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O'Connor projected that prices for such trees won't go up "dramatically," although given inflation, shoppers can expect at least a 5% to 10% increase in price.
Growers have faced skyrocketing costs, which include fuel rising 70% and fertilizer surging 300% in the last year, according to O' Connor.
The good news, he said, is that there are trees even for those on a budget.
Tristan Wasley, the groundskeeper at Old Farm Christmas Place of Maine, carries a customer's tree on Friday, November 27, 2015. (Photo by Derek Davis/Portland Portland Press Herald via Getty Images)
Trees vary in price depending on its appearance, size and the type of tree you buy, he added. For instance, trees that aren't "perfect on all sides" are going to cost less.
"We always say this with sincerity, there is a tree for everyone," he said, "There are trees that are lower priced."