2025 Deloitte Holiday Retail Survey
Spirits bright, wallets tight
Despite forty years of change in holiday shopping, this season reflects both economic caution and enduring consumer desire for celebration. With persistent inflation and worries about the economy, 77% of surveyed consumers expect higher holiday prices and more than half anticipate a downturn, leading to planned spending cuts—especially among Gen Z and millennials. Value-seeking behaviors dominate, with shoppers leveraging deals, digital tools, AI, and social media for convenience and savings. Retailers who focus on omnichannel experiences, stress relief, and quality value can win loyalty in an environment where shoppers are blending online and in-store and trimming non-essential spend.
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