"If everything feels expensive this year, you're not alone. The high cost of living is on many Americans' minds heading into the tail end of the year - a period defined by ceaseless shopping, whether it's for the Thanksgiving menu or a last minute gift for under the tree. Americans need to buy stuff (perhaps stuff), but they're also feeling the pinch of persistent inflation, chaotic tariffs and a frozen job market in 2025."
"According to a recent survey from consulting firm Deloitte, more people will be shopping this Black Friday through Cyber Monday, but they plan to spend less. Consumers said they plan to spend an average of $622 during the stretched out shopping holiday, down 4% from last year - the first decline in five years. Unsurprisingly, shoppers who planned to cut their spending pointed to higher living costs and financial constraints in the decision."
""While most shoppers are showing restraint this season, the spending power of Gen Z is growing-they are responsible for about $20 of every $100 holiday dollar spent, compared to just $4 five years ago," Deloitte Retail Strategy Leader Brian McCarthy said. "And we expect they are headed back to the stores on Black Friday to take part in the excitement of the day.""
Consumers face high living costs, persistent inflation, chaotic tariffs, and a cooled job market as the holiday shopping season approaches. Deloitte data show more people plan to shop during Black Friday through Cyber Monday but expect to spend an average of $622, down 4% from last year—the first decline in five years. Many shoppers cite higher living costs and financial constraints for cutting spending. Gen X and baby boomers report plans to reduce spending, while Gen Z and millennials intend to maintain levels. A large share of Gen Z plans to shop in person, and income groups show varied responses.
Read at Fast Company
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