PHILADELPHIA, PA — Holiday shoppers are rapidly rewriting their spending playbooks as economic pressure reshapes how, when, and where Americans buy gifts, according to new survey data released by analytics and AI firm Qlik.
Qlik’s second annual holiday shopping survey found that 83 percent of consumers are changing their holiday plans in response to current economic conditions. Among those adjusting, 40 percent said they are buying fewer gifts, while 35 percent started shopping earlier to spread spending across more pay periods.
Inflation remains the dominant force behind those decisions. Nearly four in ten respondents cited rising prices as the primary influence on their holiday budgets, far outpacing concerns about tariffs or fears of an artificial intelligence-driven economic bubble.
One of the sharpest behavioral shifts is the move away from premium brands toward lower-cost alternatives, a trend led by younger shoppers. About 32 percent of Gen Z respondents said they actively seek substitutes for high-end brands, opting for value retailers, private labels, or emerging brands that deliver similar aesthetics at lower prices. The strategy reflects a determination to stay on trend without overspending during the most expensive shopping season of the year.
Secondhand gifting is also moving firmly into the mainstream. The survey shows the Silent Generation shops thrift and resale channels for gifts at nearly the same rate as Millennials and Gen X, while 31 percent of Gen Z report buying pre-owned items for the holidays. Baby Boomers remain the clear outlier, with just 13 percent saying they shop secondhand for gifts.
Returns, long treated by retailers as a costly necessity, continue to emerge as a revenue opportunity. One in five consumers said they spend more at the time of return than the value of the item being brought back. Gen Z again stands out, with 30 percent routinely adding items during a return transaction. More than half of Gen Z respondents also said they sometimes buy items online expecting they will likely return them, compared with 43 percent of Millennials and 32 percent of Gen X.
Qlik Chief Executive Officer Mike Capone said the data offers retailers a preview of future shopping behavior. He said younger consumers prioritize value, embrace returns as part of the shopping journey, and expect retailers to meet them with flexibility and precision.
The findings suggest retailers that succeed this season will be those that manage pricing, inventory, and returns as a single, connected experience. Qlik said companies that use high-quality data and advanced AI tools to optimize that full journey stand the best chance of protecting margins while meeting evolving consumer expectations.
The survey was conducted by Censuswide among 2,000 nationally representative U.S. adults between November 27 and December 1, 2025.
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