Consumer Behavior

Consumers prioritizing holiday traditions despite money concern

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October 23, 2026

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Consumers are prioritizing holiday purchases and experiences above competing financial priorities and money concerns.

That's a prime finding of ICSC's "2026 Holiday Intentions" survey, which also revealed holiday spending is expected to rise as shoppers see value, compare options and are increasingly borrowing to cover spending.

Eighty-eight percent of U.S. adults — approximately 237 million people — plan to purchase holiday gifts and other holiday-related items this season, with 78% planning to spend the same or more than last year.

The top 10% of shoppers anticipate spending five times more than the average consumer, according to a press release.

"Consumers have made it clear they are willing to make sacrifices for the things that matter to them this holiday season, but they are making careful decisions about when and where they spend to make that money go further," Tom McGee, president and CEO of ICSC. "Shoppers remain resilient, but they're more discerning and value-conscious; competitive prices, convenient shopping options, and experiences that bring people together are non-negotiable for retailers to attract shoppers and give them reasons to return throughout the season."

Nearly half (49%) are concerned about being able to afford holiday gifts this year and 50% say their personal or household debt will affect their holiday spending.