WASHINGTON — Economic concerns are steering holiday shoppers toward sales, price comparisons and coupons this year, with 56% saying the state of the economy will affect their spending plans, according to a National Retail Federation survey conducted by Prosper Insights & Analytics.
Among consumers who expect the economy to influence their holiday spending, 43% plan to shop for sales more often, 31% will comparison shop online more frequently, and 29% will make greater use of coupons.
The findings underscore the importance of value as retailers compete for holiday purchases, with shoppers citing budget considerations both for starting early and for waiting until later in the season.
“With affordability top of mind, holiday shoppers are taking a thoughtful approach to spending, balancing value with the need to preserve traditions that make the holiday season special,” said NRF Vice President of Industry and Consumer Insights Allison Zeller. “Retailers understand consumer budget priorities and are responding with compelling products, promotions and shopping experiences that make it easier to find value while still capturing the holiday excitement.”
Holiday participation remains broad, with 91% of U.S. adults planning to celebrate winter holidays, including Christmas, Hanukkah, or Kwanzaa.
Forty-three percent of holiday shoppers plan to begin browsing and buying before November, little changed from 42% last year. Among those getting an early start, half say they want to spread out their shopping budgets, while 37% cite prices and promotions they cannot pass up.
Deals also play a prominent role in the plans of shoppers who wait. Among those beginning in November, 46% say they are holding off because they find the best prices and promotions in November and December.
An early start does not necessarily mean an early finish. Nearly two-thirds of consumers, or 64%, say they are likely to wait until Thanksgiving weekend to do most of their shopping, down from 63% last year.
“From getting an early start to waiting for major deals and promotions, consumers are choosing when to shop based on what works best for them,” said Prosper Executive Vice President of Strategy Phil Rist. “Even with a significant portion of shoppers beginning before November, many still plan to take advantage of deals and promotions during Thanksgiving weekend to make progress on their holiday shopping.”
Online remains the leading shopping destination, with 53% planning to make holiday purchases there. Grocery and discount stores each attracted 43%, followed by department stores at 42%.
Gift cards again lead consumers’ wish lists, with 47% saying they would like to receive them. Clothing follows at 44%, ahead of books and other media at 25% and personal care or beauty items at 24%.
Despite shoppers’ concerns about affordability, NRF forecasts holiday spending during November and December will rise 4.2% from 2025 to $1.013 trillion.
The survey of 8,094 adult consumers was conducted Oct. 1–7 and has a margin of error of plus or minus 1.1 percentage points.
