PwC (PricewaterhouseCoopers), one of the "Big Four" worldwide accounting firms, surveyed 4000 U.S. consumers over the summer about their spending plans for the upcoming holiday season. Their findings might signal cause for concern for U.S. retailers.
-- Based on survey results, on average, consumers plan to spend $1,552 on gifts, travel and entertainment during the 2025 holiday season, which would represent a 5% drop year over year. Deeper analysis reveals especially dour spending plans among Generation Z - those born between the mid-1990s and early 2010s, characterized by their digital fluency, having grown up in the age of the internet and social media.
This particular cohort reported they expect to spend 23% less than year ago, on average. That’s in sharp contrast to last year’s survey findings for Generation Z, when they to spend 37% more than in 2023.
Explaining possible explanations of the rapid shift in Generation Z’s sentiment, PwC’s Ali Furman observed, “They’ve been raised in an era of rising costs. They’re laser-focused on value and cost transparency. For them, dupes aren’t a downgrade. They’re proof of smart shopping.” She went on to observe, “They are experience-driven, often prioritizing concert tickets, hotel stays and plane trips over buying new items, and they’re feeling the pinch as those experiences cost more…taking up more of their wallet.”
Among other generations, spending expectations for the 2025 holidays were about equal to year-ago, except for among Baby Boomers, who expect to spend 5% more on average.
PwC’s mixed survey findings could add to concerns among manufacturers and retailers as they wrestle with the question, what portion of higher tariff costs they will pass on to consumers who seem to be exhibiting heightened price sensitivity.
This retail news update is provided by Butcher Block Co. - an online retailer whose primary focus is butcher block and plank-style countertops and butcher-block-topped kitchen islands, tables, carts and cutting boards.
Although the company’s tag line is “THE experts in all things butcher block,” BBCo. also carries some of the finest and sharpest kitchen knives available anywhere; as well as magnetic knife holders made of stunning live-edge maple or walnut; and their own line of all-natural butcher block cleanser, oil and conditioner. For great ideas for distinctive gift-giving, visit the BBCo. Gift Shop at https://butcherblockco.com/kitchen-gift-ideas.
Contact Info:
Name: Kathleen Grodsky
Email: Send Email
Organization: Butcher Block Co.
Address: 2641 E Cortez Street, Phoenix, AZ 85028, United States
Phone: +1-877-845-5597
Website: https://butcherblockco.com
Source: PressCable
Release ID: 89170538
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