EXCLUSIVE: Accenture discusses how AI, inflation impact holiday spend

Kelly Askew, Accenture global retail industry lead, says shoppers are accounting for the economy and using artificial intelligence this holiday season.

Chain Store Age recently spoke with Askew about what Accenture data reveals regarding consumer attitudes toward inflation and next-gen AI, and how they will affect the upcoming holiday shopping season.

How is inflation affecting holiday spending plans? 

Shoppers are recalibrating, not retreating. They haven't given up on the season, but they have become more deliberate about where spending creates the most value. Eighty percent of consumers surveyed by Accenture plan to spend the same or more this season, down from 87% last year. 

What's particularly telling is why people are spending more. Among those raising their budgets, 53% say it's because the cost of everything has gone up. That shows that increased holiday spending isn't necessarily for more gifts, but rather the same gifts at higher prices. 

One of the most notable shifts is where that spending lands. For the first time, shoppers plan to allocate more of their gift budget to themselves (21%) than to their children (17%). This shift suggests consumers are becoming more comfortable directing holiday spending toward themselves, a notable departure from prior years and one with meaningful merchandising implications. 

Finally, consumers are managing pressure by starting earlier: Nearly one in five consumers said they already started shopping before August (up from 10% last year). Getting ahead allows households to spread purchases across their budget, lock in spending and avoid a year-end crush. 

It also gives retailers earlier visibility into demand and reduces reliance on last-minute inventory clearance. For retailers, the opportunity is to meet shoppers earlier with meaningful discounts, targeted loyalty rewards, curated bundles and seamless shopping experiences that help consumers make every dollar go further.  

Why are generative and agentic AI becoming mainstream shopping tools? 

AI is helping people sort through more choices, stay within budget and feel more confident about what they buy this holiday. In fact, 71% of shoppers now expect to use generative AI for holiday shopping, up from 66% last year and 39% in 2024. Consumers are increasingly trusting AI with their most personal shopping decisions: Nearly four-in-10 U.S. shoppers are now open to using AI agents to buy gifts for their friends (38%) or themselves (37%). 

The more revealing finding is about trust. Three-in-10 shoppers say they'd now trust a personal AI agent more than themselves to make holiday purchase decisions. Among active gen AI users, that rises to about one in two. People aren't just using AI as a tool; many are becoming increasingly comfortable relying on it for shopping decisions. 

That said, most are sharing control, not giving it up completely. While 73% are open to collaborating with an agent and 58% would let one execute tasks, only 22% would let it decide what to buy and just 8% would let it purchase independently. 

Shoppers are looking to AI for inspiration, faster targeting and better decisions, not to hand over the gift purchase entirely. However, to earn this trust, AI cannot be generic and must be useful, trusted and connected to the shopping context consumers already understand. 

For example, 57% now prefer a retailer's own generative AI tool, which feels more reliable, over a publicly available one, up from an even split last year. That creates a clear opportunity for retailers to gain customer confidence by earning trust in the shopping experience. 

[READ MORE: Accenture: Customers trust AI agents to perform these tasks for them]