Deloitte’s 2026 Holiday Retail Survey results project average household spend during year end festivities is set to increase by 4% in 2026 versus the year-earlier season to $1,654.
Survey respondents said they expect their spending on retail goods to be up 10% year over year to $988, with planned spending on holiday activities to decline by about 4% to $666. Half of shoppers plan to gift an experience this year, up from 47% in 2025 and 39% in 2024. Some 79% who plan to give an experience want to pair it with a physical item.
Roughly half (47%)of respondents said they prefer to give one meaningful, higher-cost gift rather than several smaller gifts.
Deloitte characterized 38% of consumers as holiday value seekers, a group that is adopting five or more money-saving behaviors such as shopping promotions, redeeming rewards and checking out private label and other value alternative products to make gift purchases feel worth the price. Even so, those same shoppers expect to spend 12% more than others, according to Deloitte.
Gen Zers and Millennials will be the primary drivers of spending growth, Deloitte noted, as both groups plan to increase spend by double digits year over year. Combined, the business services firm expects the two generational to generates roughly 50% of holiday spending.
Younger consumers report better household financial circumstances versus this time last year, and they plan to increase their spend after pulling back in 2026. Gen Zers and Millennials are driving the largest gains in gifting. For example, 76% of Gen Z shoppers intend to gift physical items.
In the survey, planned spending on retail goods advanced across the income spectrum, while experience spending diverged by household income. Households earning more than $200,000 plan to spend $3,607 on average versus $693 for those earning under $50,000.
Among other survey findings, Deloitte stated:
- 60% of consumer home and kitchen budgets have been allocated to in-store spending.
- 55% of consumer overall holiday budgets have been allocated to online spending.
- 36% of holiday shoppers intend to spend most or all of their money at online-only retailers.
- 18% of holiday shoppers plan to spend most or all of their holiday budgets at mass market retailers.
- 22% of consumers plan to start shopping earlier this year than last year.
- 28% of shopper budgets are likely to be exhausted by the end of October, the highest proportion in six years.
- 25% of consumers already purchased holiday items during June retail promotional events.
- 25% of shoppers plan to engage October sales events, up 18 percentage points from 2023.
- 77% of consumers still will be shopping in November, roughly on par with the proportion who said they would be shopping in December.
Deloitte added that average holiday spending intention rises steadily as shoppers use search, social media and GenAI in shopping. Consumers using all three tools plan to spend an average of $2,893 versus $1,175 among shoppers who did not use any of them.
Younger shoppers are more likely to seek guidance, personalization, convenience and service than older shoppers, Deloitte pointed out. For their part, older shoppers prefer a more independent experience once costs are clear. The contrast points to evolving generational preferences that create new opportunities for retailers to differentiate holiday shopping experiences. Younger shoppers also lead self-gifting, while, at the same time, higher-income households show greater intent to buy presents for themselves.
When shopping, 26% of all respondents rely on salespeople to find an appealing luxury gift, including 34% of Gen Zers and 31% of Millennials, compared with 18% of Gen Xers and 13% of Baby Boomers.
Deloitte reported 20% of survey respondents plan to buy personalized or monogrammed gifts, including 33% of Gen Zers and 29% of Millennials, 14% of Gen Xers and 5% of Baby Boomers. Among the 44% of respondents who find gift shopping stressful, 74%— including 79% of Gen Zers and 69% of Boomers — said wish lists make the process easier,
As for delivery goods, 26% of respondents want same-day delivery, rising to 37% among Gen Zers and 33% among Millennials, compared with 24% of Gen Xers and 13% of Boomers.
Among shoppers planning or thinking about a self-gift, the average spending expectation is $299, up 13% from 2025 and 20% from 2024. Younger shoppers lead this trend, with 49% of Gen Zers intending to self-gift compared to 18% of Baby Boomers. Male shoppers plan to spend more on self-gifting, at $355, then female shoppers, at $245.
“For the first time in our annual survey, Gen Zers and Millennials are expected to account for 50% of holiday spending, presenting a meaningful opportunity for retailers,” said Natalie Martini, Deloitte vice chair and U.S. retail and consumer products sector leader. “Their preferences, including wish lists, faster delivery and personalized gifts, can help retailers make the shopping experience more relevant and convenient. Retailers that respond effectively may be better positioned to earn these shoppers’ spending this holiday season.”
