The National Retail Federation’s (NRF) annual consumer survey, which canvassed 8,094 US adults in October, revealed that affordability is leading more consumers to seek value, with 43% reporting they will target more sales, 31% increasing online price comparisons, and 29% opting for greater coupon use.
NRF industry and consumer Insights vice president Allison Zeller said: “With affordability top of mind, holiday shoppers are taking a thoughtful approach to spending, balancing value with preserving traditions that make the holiday season special. “Retailers understand consumer budget priorities and are responding with compelling products, promotions and shopping experiences that make it easier to find value while still capturing the holiday excitement.”
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The survey, conducted by Prosper Insights & Analytics, also found that 91% of US adults still plan to celebrate major winter holidays, maintaining the high participation seen in previous years.
However, when it comes to timing, consumers are split, with 43% intending to begin shopping before November, mainly to spread out budgets or take advantage of early discounts, while 64% say they are likely to hold out until Thanksgiving weekend for deals, a trend that has not changed notably from last year.
Among early shoppers, half said spreading costs was their main motivation, whereas 37% cited attractive promotions. By contrast, of those delaying their purchases, 46% believe the best deals arrive in November and December.
Prosper strategy executive vice president Phil Rist added: “From getting an early start to waiting for major deals and promotions, consumers are choosing when to shop based on what works best for them. Even with a significant portion of shoppers beginning before November, many still plan to take advantage of deals and promotions during Thanksgiving weekend to make progress on their holiday shopping.”
According to NRF’s data, Clothing is among the most requested gifts this holiday season, with 44% of respondents hoping to receive apparel, while gift cards remain the most popular choice at 47%.
Online remains the retail channel of choice, with 53% planning to make digital purchases. Grocery and discount stores are tied at 43% each, and department stores follow closely at 42%.
Looking ahead, the NRF has forecast a 4.2% increase in holiday-related spending for 2026, projecting sales in November and December to reach $1.01tn.
