Americans may spend more than $1 trillion on the holidays this year, but not everyone plans to splurge.
Most shoppers are looking for opportunities to save. In fact, holiday spending among Gen Z is expected to drop by 23%, according to a report from accounting firm PwC.
Many Gen Z shoppers also plan to thrift. The report found six in 10 Gen Z consumers are more likely to buy secondhand this season as they look for ways to save money.
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Millennials are also expected to spend slightly less, while Gen X and baby boomers are projected to spend a bit more on their holiday shopping compared with 2024.
“We should not be going overboard this year,” shopping expert Trae Bodge said. “As a consumer, make your list and stick to that list.”
Experts say setting a clear budget can help — and so can AI. About one-third of shoppers say they’re using artificial intelligence tools to help choose gifts.
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