The National Retail Federation reported last week that spending between Nov. 1 and Dec. 31 is “clearly on track” to reach a record, between $979.5 billion and $989 billion.

The National Retail Federation predicts nearly half of all shoppers will head to department and discount stores to knock out their shopping lists this holiday season.

That’s as shoppers are projected to spend up to $989 billion between November 1 and December 31, according to the National Retail Federation. This holiday season has come with a hefty price tag: record-high credit card debt.

The holidays for many Americans means splurging on gifts for loved ones and despite the high prices caused by inflation, the tradition continues.