There should be a rise in holiday spending this year, thanks to low-income shoppers who feel better about their finances, reports CNBC’s Krystina Gustafson.

A new PwC study found that households with an annual income of less than $50,000 plan to spend 23% more– $837 total – on gifts, travel, and entertainment this Christmas when compared to last year.

"There's a willingness to spend," Steve Barr, leader of PwC's U.S. retail and consumer practice, told CNBC.

Overall, PwC expects holiday spending to rise 10 percent this year, to $1,121 per household. The firm based its results on a survey of more than 2,100 consumers.

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