A PwC survey reveals a projected 5% decrease in average holiday spending to $1,552, driven largely by Generation Z's 23% reduction. This younger generation prioritizes value and experiences over material goods due to rising costs and debt. While this presents a challenge for retailers, it also highlights a growing trend of price sensitivity among consumers wary of inflation and potential tariff increases. Other generations show relatively flat spending expectations, except for baby boomers, who plan a 5% increase.

Prepared by Christopher Adams and reviewed by editorial team.