Study Finds Non-Gift Holiday Spending to Drop 26% as Consumers Trim Budgets

The Credit Economy: How Consumers Are Approaching Holiday Spending and Travel

Economic uncertainty and inflationary pressures have lead many consumers to tighten their non-gift spending budgets this year. PYMNTS Intelligence’s latest survey of 3,302 U.S. consumers, “The Credit Economy: How Consumers Are Approaching Holiday Spending and Travel,” a PYMNTS Intelligence and i2c collaboration, reveals that 94% of holiday shoppers are taking action to make sure they don’t have to skimp on gifts.

Inside the November Study
  • 39%: Share of holiday shoppers planning to give clothing this year
  • 25%: Portion of consumers planning to travel this holiday season
  • $1,950: Average amount consumers planning to travel expect to spend on holiday travel this year

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