Consumer Behavior

Holiday shoppers setting budgets, planning earlier

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October 2, 2026

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Holiday shoppers, facing economic challenges, likely won't spend less this season. What they will change, however, is how they spend.

Six in 10 Americans, 58%, are feeling greater financial concern, but 64% still expect to spend the same or more than the 2025 holiday season.

In response, shoppers are planning earlier, setting budgets and looking for more ways to get value from each purchase, according to a PayPal "2026 Holiday Shopping Survey."

More than half, 58%, plan to shop before Thanksgiving, while 67% are more likely to shop with a retailer that offers rewards or cash back.

"What's changing isn't consumers' desire to spend during the holidays, but how they're going about it," Frank Keller, president of checkout solutions at PayPal, said in a press release on the survey. "Shoppers are starting earlier and taking a more intentional approach, looking for deals, rewards and cash back to make every purchase count while still prioritizing the gifts and moments that matter most."

The survey was conducted by Morning Consult and polled 2,005 U.S. adults from Sept. 2-4, 2026.