ICSC’s 2025 Thanksgiving Weekend Intentions survey indicates consumers in the United States plan to spend $127 billion during the traditional holiday shopping kickoff weekend in 2025, more than they did during the 2024 period.
Shoppers expect to spend an average of $542 over the five-day period, the former International Council of Shopping Centers reported, up from $529 last year. Strong participation in Thanksgiving weekend shopping across generations reinforces the significance of Thanksgiving weekend, ICSC maintained, with Millennials expected to lead outlays with an average spend of $764 per person.
As the big weekend approaches, 36% of consumers surveyed told ICSC they plan to spend more than last year, and 40% said they would spend the same amount. Gen Z shows the most enthusiasm, with almost six in 10 planning to increase their spending for the period compared to 2024, ICSC noted.
Consumers remain deal motivated, with 59% citing discounts and exclusive offers as their primary reason for shopping during the Thanksgiving weekend, a two percentage point increase from 2024. About two-thirds of consumers said they would do all or most of their seasonal purchasing between Thanksgiving and Cyber Monday, led by Gen Z, at 76%, and Millennials, at 71%. In 2025, 57% of consumers agreed deals offered during Thanksgiving weekend are just as or more important to them this year as they were in the past, and 56% said their purchases this year will be heavily influenced by promotions, an uptick from 50% in 2024, ICSC pointed out.
Among those planning to shop Thanksgiving weekend, 83% said they will shop in physical stores with the same proportion tapping online for delivery. Some 58% intend to order online and pick up their purchases in stores. On Thanksgiving weekend, 80% of shoppers plan to visit a retail center, with 59% of consumers expecting to shop, 48% planning to dine and 28% set to attend holiday events. Shoppers expect to support a diverse mix of retailers, with 64% intending to shop large national chains or big-box retailers, 62% intending to check out online marketplaces and 34% intending to shop local independent businesses.
As they navigate an unsteady economy, 72% of shoppers plan to use the weekend’s sales to stock up on everyday, non-holiday items, with 70% saying they will take advantage of discounts to buy products they have delayed purchasing due to price increases. Consumers also expressed sensitivity around pricing and tariffs, with two-thirds saying they will avoid retailers that significantly raise prices and 51% reporting concerns about product shortages or limited inventory.
AI will play a more prominent role in holiday shopping this year, ICSC indicated, with 63% of shoppers ready to use AI tools offered by third-party providers, including ChatGPT and retail chatbots, to help them find deals, compare prices, generate gift ideas and organize their shopping. GenZers, at 80%, and Millennials, at 72%, lead in AI use intent, and three in five Gen Xers also plan on using AI resources.
“Despite the longer holiday season, Thanksgiving Weekend remains a vital moment for retailers and shoppers alike, and we see no signs of momentum slowing,” said ICSC President and CEO Tom McGee. “This year’s results reinforce what we’ve seen all year: Consumers are ready to spend, but they expect value from their dollars. Every year, there’s a question about whether the long holiday weekend still matters. And every year, the answer from consumers is the same: it does.”
McGee added that younger consumers “are steadily growing in their spending power, and we expect to see that reflected during Thanksgiving Weekend. For many Gen Z and Millennials, this is the most important shopping period of the season, with a large share planning to do the majority of their holiday shopping then, more than older generations. With tighter financial constraints, these younger consumers tend to be more value-driven, making deals and promotions especially influential.”
