EXCLUSIVE: Consumer holiday budgeting plans include AI
Holiday shoppers are feeling the strain of the economy and are responding with a variety of tactics including the use of artificial intelligence tools.
Roughly one-in-eight U.S. consumers don’t plan to celebrate the holidays this year, with three-in-four of those shoppers citing financial strain. Data from Refine Packaging exclusively released to Chain Store Age also reveals that 54% of consumers not celebrating the holidays are feeling the impact of inflation and almost 25% say they need to save for essentials.
[READ MORE: Holiday shoppers are adapting to the economy — here's how]
The Refine Packaging survey of 1,000 U.S. adults also indicates that 43% of respondents are spending less on the holidays this year than last year, and 35% of respondents with children expect to spend less compared to the previous holiday season. Still, seven-in-10 (71%) feel pressured to spend more on the holidays than they can afford.
Close to half (48%) of respondents plan to spend less than $500 on the holidays, while 24% will spend $500-$999, 16% intend to spend $1,000 - $1,999, and only 5% anticipate spending $2,000 or more on the holidays in 2025.
AI is proving a popular resource for holiday shoppers, with 70% of respondents planning to use AI tools to plan or shop for the holidays. The leading holiday shopping-related uses for AI are to find deals (68%), generate gift ideas (65%), stay on budget (47%), and find unique gifts for loved ones (39%).
Other findings
- Close to seven-in-10 (68%) respondents said that rising food prices have impacted how they plan their holiday meals. One-in-four respondents are buying generic brands to save money on their holiday meals, while 24% are skipping dining out and 23% are making cheaper dishes this year.
- Three-in-four respondents will reuse wrapping or packaging to save money and reduce waste.
- Four-in-10 respondents plan to buy “small luxuries” like candles or festive snacks to help avoid overspending.
Refine Packaging surveyed 1,000 U.S. adults about their holiday spending, AI use, packaging habits, and meal planning. Respondents were segmented by age, gender, income, and household type to understand how inflation, technology, and sustainability are affecting holiday spending.
