Mall of America survey finds hunt for holiday value on the rise
Consumers are split on holiday spending, but value is expected to be a key driver for a majority of shoppers.
According to a new holiday survey from Mall of America, just over a quarter (27%) of shoppers anticipate spending less than last year, down from 34% in 2025. Meanwhile, 44% expect to spend about the same, and 16% plan to spend more.
Despite the mixed bag of planned spending, six-in-10 (61%) respondents plan to look for more deals, promotions or rewards this holiday season, compared with 53% in Mall of America's 2025 survey.
More than two-thirds (68%) of shoppers plan to do most of their holiday shopping through a mix of online and in-person channels, compared with 66% in 2025. Technology and electronics ranked first among categories respondents expect to spend the most on in 2026 (26%), narrowly ahead of clothing and footwear (25%), while toys and games ranked third (18%). In last year’s Mall of America survey, clothing ranked first, toys and games second, and technology third.
[READ MORE: 2026 Top 10 Retail Center Experiences: No. 5 — Mall of America]
When asked what makes an in-person visit exciting beyond shopping, 26% ranked dining or seasonal food and drinks first, followed by holiday décor and atmosphere (25%) and spending time with family or friends (21%).
Unsurprisingly, artificial intelligence tools are expected to be used by consumers to find the best deals. Almost half (45%) of respondents identified at least one way they expect to use AI for holiday shopping, by comparing products or prices (22%) and finding deals or promotions (18%) among the most frequently selected uses.
However, when asked by Mall of America to rank their preferred sources of holiday gift ideas, friends and family were the leading first choice at 50%, followed by shopping in stores at 28%. Fewer than 1% ranked AI tools first.
"Technology is giving shoppers new ways to plan for the holidays, but there's still something special about discovering the perfect gift in-person and sharing those moments with family and friends," said Jill Renslow, chief business development & marketing officer at Mall of America. "Shoppers are finding new ways to make the most of their holiday budgets while enjoying the experiences that make the season special. At Mall of America, guests can discover sought-after brands, explore new retail experiences and enjoy holiday traditions that bring family and friends together year after year."
Mall of America surveyed 1,775 consumers online ahead of the 2026 holiday shopping season.
Located in Bloomington, Minn., Mall of America is the largest shopping and entertainment complex in North America with up to 500 world-class retail stores and restaurants.
