Key stat: Gen Z’s expected holiday spend in 2025 is $1,357, down 22.5% from 2024, according to July data from PwC.

Beyond the chart:

• Nearly a quarter (24%) of US holiday shoppers ages 18 to 29 will buy gifts earlier to avoid possible price increases due to tariffs this year, according to July CivicScience data.
• Younger consumers also plan to spend less on gifts (27%) and buy fewer gifts overall (27%) due to higher prices and tariff-related concerns, per the same data.

Use this chart: Marketers should rethink how they reach Gen Z this holiday season. With younger shoppers pulling back, messaging that emphasizes affordability, value bundles, and sustainable or resale options will resonate most. At the same time, highlighting discounts across digital channels where Gen Z spends its time, like TikTok and Instagram, will help capture attention.

Related EMARKETER reports:

• Holiday Shopping 2025 (EMARKETER subscription required)
• US Holiday Ecommerce Sales​ Benchmarks: Q2 2025 (EMARKETER subscription required)

Methodology: Data is from the September 2025 PwC report titled "Holiday Outlook 2025: A Seasonal Remix—Value, Meaning and Generational Shifts." 4,000 US consumers were surveyed online during June 26-July 9, 2025. Respondents were broadly representative of the US population across gender, region or state, and generational group, with 1,000 respondents each from Gen Z, millennials, Gen X, and baby boomers. Consumers reported their expected 2025 holiday spend in USD across gifts, travel, and entertainment. Data is shown for 2022-2025 for consistent generational comparison.