National Retail Federation: People Will Spend More Than $720 Billion On Presents During 2019 Holiday Season

PHILADELPHIA (CBS) -- 'Tis the season for holiday shopping! The National Retail Federation says people will spend more than $720 billion on presents this year.

Gift cards are the most popular gift.

Meanwhile, Barbie remains the top toy this year, followed by LOL Surprise Dolls and American Girl items.

Lego, Hot Wheels and Paw Patrol are also some popular gifts.

The National Retail Federation also says the average person spends about $1,000 on all of their holiday shopping.