52% of U.S. Consumers Expect Inflation to Hurt Holiday Spending

A WalletHub survey released this week found that 52% of American adults believe inflation will negatively impact their upcoming holiday season. John Kiernan, the site’s managing editor, stated the organization identified that more than half of the population expects rising prices to ruin Christmas or other celebrated holidays.

Spending plans appear constrained by current economic pressures. The data indicates that 79% of respondents plan to set holiday budgets that are either identical to last year’s or smaller. Additionally, 25% of participants reported they are still carrying debt from the previous holiday season into this year’s spending period.

Many consumers view early shopping as a strategy to mitigate cost increases. Kiernan noted that 41% of people typically begin purchasing gifts in October or earlier. He added that over two-thirds of respondents believe starting early saves money compared to last-minute buying. Kiernan said there are still opportunities to save for those who have not yet started.

The survey also explored attitudes toward new shopping tools. Fifty-six percent of people said they do not trust artificial intelligence to assist with their holiday purchases. Kiernan advised that planning ahead and sticking to affordable limits remains the primary way for households to manage holiday expenses.