How consumers plan to save money during the holidays

Key stat: 25% of US consumers will avoid traveling to cut back and save during the holiday season, according to an August 2024 survey by Censuswide and Invoice Home. Another 24% will opt out of gifting and 23% will thrift their gifts.

Beyond the chart:

• Despite shaky consumer confidence, making them think twice about their purchases, consumers have continued to spend. In Q2 2024, US GDP increased at a 3.0% annualized rate, per the Commerce Department's Bureau of Economic Analysis, thanks to strong consumer spending and an increase in personal income.
• US holiday retail and ecommerce sales will grow 4.8% this year, reaching $1.353 trillion, per our July 2024 forecast.

Use this chart: Brands and retailers can use this chart to highlight consumers’ cost-conscious attitude, while marketers can make a case for more value-oriented ad messaging.

Related EMARKETER reports:

• US Holiday Shopping 2024 (Subscription required)
• The State of Gen Z Financial Health (Subscription required)

Methodology: Data is from the August 2024 Invoice Home online survey titled "Delayed Holidays? 1 in 10 Americans Are Planning to Celebrate in 2025 Due to Cost". 2,002 US consumers ages 18+ were surveyed during August 5-7, 2024 by Censuswide.