#USA #New York #holiday shopping #Deloitte #Consumer Spending

Deloitte's Holiday Spending Insights 2026

According to Deloitte's recent Holiday Retail Survey for 2026, average household spending is set to rise to $1,654, reflecting a 4% increase compared to the previous year. This growth is predominantly driven by Generation Z and millennials, who are anticipated to constitute 50% of the total holiday spending for the first time. This generational shift not only highlights the evolving consumer base but also showcases significant opportunities for retailers to engage younger shoppers effectively.

Key Findings from the Survey

1. Shopping Trends Among Generations

Both Gen Z and millennials are planning to increase their spending by double digits this year. While the respondents indicated that their spending on retail goods would rise by 10% to $988, their planned expenditures on holiday activities are expected to dip by 4% to $666. These trends illustrate a nuanced approach to holiday spending, with consumers prioritizing tangible gifts alongside experiences.

2. Experience Gifting Grows

Notably, 50% of shoppers intend to give experiences this holiday season, a rise from 47% in 2025 and 39% in 2024. However, many consumers (79%) still wish to pair these experiences with physical items, indicating a blend of practicality and sentimentality in gift-giving.

3. The Value-Seeking Consumer

In today's climate, savvy spending plays a pivotal role, with 38% of consumers identifying as 'holiday value seekers.' These shoppers leverage promotions, rewards, and value alternatives to ensure their purchases offer good returns. Interesting enough, even these value-conscious shoppers are expected to spend 12% more than their peers.

4. Household Income Impact

Spending expectations vary significantly across income brackets. For instance, households earning over $200,000 plan to allocate an average of $3,607, while those with incomes below $50,000 expect to spend only $693. This stark contrast underscores the diversity in financial capabilities among shoppers.

Generational Insights Into Holiday Gifting

Gen Z and millennials are increasingly influential in shaping holiday shopping trends. Their preferences lean towards personalized gifts, convenience, and quicker delivery options. Deloitte highlights that younger generations express a desire for tailored shopping experiences, such as wish lists, to simplify gift selection.

Shift Towards Early Shopping

Interestingly, there is a noticeable trend of consumers beginning their shopping earlier. About 22% of respondents indicated plans to start their holiday shopping ahead of last year, while 28% anticipate exhausting their budgets by the end of October. Early promotions in June already attracted 25% of holiday shoppers, leading to a more extended season of spending.

Adapting Retail Strategies for Shoppers

Retailers aiming to attract these young consumers must adapt to their habits and preferences. With a clear demand for personalization and convenience, there exists a unique chance for brands to offer meaningful experiences that resonate with this audience. Additionally, digital tools like search engines and social media play a crucial role in guiding shopping decisions, with those utilizing these platforms ready to spend significantly more (average $2,893) compared to those who do not engage with them (average $1,175).

Summary

As the holiday season approaches, both consumers and retailers are gearing up for a dynamic shopping experience. Deloitte's findings highlight the necessity for businesses to remain flexible and responsive to changing consumer demands. The integration of value, experiences, and personalization will be critical as the holiday shopping landscape continues to evolve. Retailers that can successfully resonate with the unique preferences of younger generations may find themselves at a significant advantage this season.