There’s plenty of room for delight, too. Half of the surveyed shoppers plan to gift an experience, up 11 percentage points since 2024, and most want to pair it with a physical gift. Self-gifting and luxury considerations are also rising, especially among younger generations.
These younger shoppers are particularly important this season, as Gen Z and millennials are expected to make up 50% of holiday spending for the first time in our survey.
Consumers are also getting an earlier start, with 22% saying they’ll shop sooner than last year. June promotions have already captured some holiday purchases for 1 in 4 shoppers, and October sales are gaining momentum (up 18 percentage points since 2023). Still, Thanksgiving week remains the main event.
The holiday shopping journey favors online-only retailers and mass merchants, which are expected to capture most of shoppers’ planned spend, while online spending is expected to make up 55% of retail budgets. Generative AI is a holiday-shopper helper, with 39% of respondents noting that it’s their primary tool for at least one holiday shopping task, but only 16% say they would permit it to complete a purchase.
For retailers, an opportunity lies in meeting shoppers’ determination to celebrate with clear value, timely promotions, and easier gift discovery, while also tapping into younger shoppers’ unique shopping preferences. Pairing products with experiences and using gen AI to build confidence rather than friction can help keep the season festive and financially manageable.
Read on for key takeaways and download the full survey findings.
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