Survey: Consumers expected to increase holiday spending — especially on retail goods
Driven by higher prices, holiday spending is expected to increase this year.
That’s according to the 2026 Deloitte Holiday Retail Survey, which found that total household spend is expected to increase to $1,654, up 4% from last year. Spending on retail goods is expected to rise 10% year over year to $988, while spending on holiday activities is expected to dip 4% to $666 per household.
A wide majority (79%) of those surveyed are bracing for higher prices this year, according to Deloitte’s survey. Holiday value seekers (38% of surveyed shoppers), who engage in five or more cost-saving behaviors while holiday shopping, are likely to spend 12% more than other shoppers on average.
Twenty-two percent of respondents said they planned to start their holiday shopping sooner than last year. June promotions have already captured some holiday purchases for nearly a quarter of shoppers, while October sales are gaining momentum (up 18 percentage points since 2023).
Earlier this week, Deloitte Canada released survey findings that revealed Canadian consumers’ holiday spending is expected to drop 5% this year. A sharp decline in spending on holiday entertaining (22%) and experiences (20%) is also expected. Overall holiday spending per person is expected to be CA$1,305, the lowest level since the survey began.
Additional highlights from Deloitte's new report include the following:
- Half of the surveyed shoppers plan to gift an experience this holiday season, up 11 percentage points since 2024. The wide majority (79%) of those planning to gift experiences expect to pair them with physical items.
- Online spending is expected to make up 55% of retail budgets.
- Gen Z and millennials are expected to make up 50% of holiday spending for the first time in Deloitte’s survey history.
- More than a third (39%) of respondents noted that AI will be their primary tool for at least one holiday shopping task, but only 16% say they would permit it to complete a purchase.
[READ MORE: NRF: Holiday sales to top $1T for first time; seasonal hiring steady]
“For retailers, an opportunity lies in meeting shoppers’ determination to celebrate with clear value, timely promotions, and easier gift discovery, while also tapping into younger shoppers’ unique shopping preferences,” noted Deloitte. “Pairing products with experiences and using gen AI to build confidence rather than friction can help keep the season festive and financially manageable.”
The 2026 Deloitte Holiday Retail Survey polled 4,000 consumers in the United States. The survey was conducted online between Aug. 26 and Sept. 10 by an independent research panel.
