Holiday shoppers are heading into the 2026 season with tighter budgets, higher price expectations, and some difficult tradeoffs. A recent DOSS survey of 1,000 U.S. holiday shoppers found that many plan to buy fewer gifts, cut their own personal spending, or take on debt to preserve Christmas for their families. Tariffs are adding another layer of pressure, pushing shoppers to budget more for gifts even as many say they can't comfortably afford their plans.
Key Takeaways
- Nearly 1 in 2 holiday shoppers (45%) expect to buy fewer gifts this season, and only 16% expect to buy more.
- Only 28% of holiday shoppers can comfortably afford the Christmas they're planning, and 56% are spending less than they would like.
- 23% of holiday shoppers say they would take on debt rather than cut back on gifts for their family.
- 38% of holiday shoppers increased their gift budget this year because they expect tariffs to raise prices, adding an extra $109 on average.
- 44% of holiday shoppers say personal spending is the first thing to go in order to protect their gift budget.
Higher Prices Are Changing Holiday Gift Budgets
Alt text: Chart showing nearly half of holiday shoppers expect to spend less on gifts this year.
Holiday Budgets Are Already Tight
- 61% say the U.S. economy is poor or very poor. Only 31% say the same about their own finances.
- Only 28% can comfortably afford the Christmas they're planning, and 56% are spending less than they would like.
- 68% of holiday shoppers have set a holiday budget and expect to stay within it.
- 1 in 7 shoppers (14%) will spend no more than $100 on gifts this year, with Gen Z (24%) being the most likely to do so and millennials (10%) the least likely.
Tariff Concerns Are Adding to Gift Budgets
- 71% say U.S. shoppers absorb tariff costs through higher prices. The 8% who attribute those costs to foreign companies or governments plan to spend $574 on gifts, compared with $458 among other shoppers, a 25% difference.
- 38% of holiday shoppers increased their gift budget this year because they expect tariffs to raise prices, adding an extra $109 on average.
- 20% say concerns about tariffs are influencing their holiday spending decisions more than their original financial plans.
Holiday Shoppers Are Trimming Gift Lists and Costs
- 45% expect to buy fewer gifts this year, with Gen X (51%) the most likely and Gen Z (35%) the least likely.
- 33% are shortening the list of people they will buy a gift for this year.
- 40% expect to pay less per gift this year, and only 23% expect to pay more.
- 52% will do half or more of their gift shopping on Black Friday or Cyber Monday, with Gen Z (61%) the most likely and baby boomers (33%) the least likely.
- 23% of holiday shoppers said they would take on debt rather than cut back on gifts for their family.
Shoppers Are Cutting Back Now and Paying Later
Alt text: Chart showing what holiday shoppers would cut first to protect their gift budget.
- 23% of holiday shoppers have already bought gifts earlier than usual to get ahead of expected price increases.
- 21% will buy gifts at discount or dollar stores, with Gen Z (26%) the most likely and baby boomers (17%) the least likely to do so.
- 22% expect to still be paying off this year's holiday spending six months from now. Gen X (26%) is the most likely to expect this, and Gen Z (16%) is the least likely.
- 44% of holiday shoppers say their own personal spending is the first thing to go to protect the gift budget.
Methodology
We surveyed 1,000 U.S. holiday shoppers about how much they plan to spend on gifts this year. The generational breakdown was 48% millennials, 23% Gen X, 20% Gen Z, and 9% baby boomers. Data was collected in September 2026.
About DOSS
DOSS is the AI-native operations platform for consumer goods, a single source of truth for procurement, inventory, and orders. The system adapts as the business changes and tightly integrates operations with financial accounting. DOSS provides inventory numbers the business can trust, contribution margin to the line-item level, and the ability to launch a new channel in days, driving growth and profit for growing consumer goods brands. Learn more at www.doss.com .
Fair Use Statement
The data and findings in this article may be used for noncommercial purposes only. When sharing or republishing, please include a link with proper attribution to DOSS.
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