Despite financial challenges this holiday season, shoppers are making their gift lists work. 

This collection of charts answers central questions about the economy’s impact on shoppers’ holiday behavior. Between inflation, interest rates and the resumption of student loan payments, consumers are in a tough spot this holiday season. Those with more financial flexibility started shopping earlier, but some more financially stressed shoppers are dragging their heels. 

Still, gifts are shoppers’ top priority regardless of financial circumstance, and while many hope to spend less than they did last year, actual spending plans look very similar to 2022. 

Chart Pack highlights:

• About one-third of U.S. adults had started their holiday shopping as of early October. This number is nearly identical to last year’s at this time, though Gen Zers are shopping earlier this year than they did last year. 

• Stores are regaining relevance for holiday shoppers. Intent to shop for the holidays in stores has gained ground since 2020, and omnichannel fulfillment is more important than ever, as early holiday shoppers used those services at higher rates than last year.

• Gifts are the top spending priority. Consumers are planning to buy both practical and fun gifts for their friends and family this year.
• About half of consumers plan to shop on Black Friday — identical to last year. Amazon’s October event is just as popular as Cyber Monday, and even more so among certain demographics.