Holiday spending in the U.S. is expected to fall this year, with Gen Z consumers in particular tightening their belts, according to a new report from a leading consulting firm.
PwC’s Holiday Outlook 2025, released on Wednesday, shows that Americans are expected to spend an average of $1,552 this holiday season, which is down 5 percent from last year. This trend is largely driven by Gen Z consumers who expect to cut their 2025 holiday spending by about 23 percent, according to the report.
