American shoppers culling back but not cutting out holiday purchases

American consumers may be cutting back when it comes to holiday spend, but they aren't cutting out holiday purchases.

That's a top finding from a Barclay's survey that also revealed are adjusting travel, prioritizing daily expanses and using loyalty rewards to cover holiday expenses, according to a press releases.

More than half of Americans (56%) have skipped — or would skip — a holiday gathering entirely because they couldn't afford it.

"Consumers are being deliberate about how they preserve the holiday experiences that matter most to them," Doug Villone, head of US Cards and partnerships at Barclays US Consumer Bank, said in the release "They are adjusting where they spend, finding new ways to stretch their budgets and putting rewards to work across a broader range of expenses."