PwC: US Holiday Spending to Fall 5% as Gen Z Cuts Back Sharply
PwC's 2025 Holiday Outlook survey reveals a 5% overall spending drop in the U.S., with Generation Z reducing budgets by 23% amid economic uncertainty and price sensitivity.
- US holiday spending is projected to decline by 5% in 2025, the steepest drop since the Covid-19 pandemic, according to PricewaterhouseCoopers .
- Gen Z shoppers plan to cut their holiday spending by 23%, reflecting ongoing economic uncertainty.
- About 84% of consumers expect to reduce spending, particularly on apparel and dining out, according to PwC.
- Millennials will spend an average of $2,190 during the holiday season, as revealed by PwC's survey.
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According to a PwC survey, spending by Americans will significantly reduce their Christmas spending by 2025: here are the reasons why
Holiday spending is expected to drop this year—led by sharpest decline from Gen Z
U.S. consumers, particularly Gen Z, are likely to spend significantly less on the holidays this year, according to a new PricewaterhouseCoopers survey. For PwC’s 2025 Holiday Outlook, the consulting firm polled about 4,000 consumers nationwide between June and July, and found shoppers expect to spend 5.3% less than in 2024, or about $1,552 per person. It’s the first notable drop since 2020—when average spending fell 7.6%, to $1,187. That’s not a…
Holiday Spending To Dip For First Time Since 2020
American consumers plan to tighten holiday budgets this year, according to PwC’s 2025 Holiday Outlook survey. Overall spending is expected to decline 5% compared to 2024, marking the first drop since 2020. Gen Z shoppers, ages 17 to 28, will cut their budgets the most, slashing holiday spending by 23%. PwC found that one in four Gen Z respondents said their financial situation has worsened since last year. Analysts point to both rising living co…
Holiday shoppers plan first spending pullback since 2020, PwC report says
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