Key stat: Nearly half (49%) of middle-income US holiday shoppers are concerned that gifts will be more expensive this year, according to July 2025 data from Bankrate.

Beyond the chart:

• US Gen Z consumers are expected to spend 22.5% less this holiday season, a July 2025 PwC survey found.
• US retail holiday sales are only expected to grow 1.2% this year, according to our May 2025 forecast.

Use this chart: Marketers can use this chart to determine how price-conscious consumers are across income brackets, and tailor their messages accordingly. A higher income doesn’t necessarily mean less concern over rising prices.

Related EMARKETER reports:

• Holiday Shopping 2025 (EMARKETER subscription required)
• US Marketplace Ecommerce 2025 (EMARKETER subscription required)

Methodology: Data is from the September 2025 Bankrate report titled "2025 Holiday Spending Report." 2,567 US adults were surveyed online during July 28-30, 2025, including 2,020 who expect to participate in winter holiday shopping. The figures have been weighted and are representative of all US adults (aged 18+).