US Holiday Spending Set for Steepest Drop Since Pandemic, PwC Survey Shows

Holiday spending by US consumers is set for its steepest drop since the pandemic as shoppers — particularly Gen Z — pull back amid economic uncertainty, a PwC survey showed.

PwC, which polled about 4,000 US consumers between June and July, said shoppers on average plan to spend about $1,552 per person, down 5.3 percent from last year. The last comparable decline was in 2020, when average spend fell 7.6 percent to $1,187.

Forecast of average holiday spend per person over the last 10 years