Americans Keep Holiday Spirit Strong Despite Economic Uncertainty.

Consumers expect to spend an average of $890.49 this year on holiday gifts, food, decorations and other seasonal items, according to the National Retail Federation’s annual consumer survey conducted by Prosper Insights & Analytics.

That figure marks the second-highest average in the survey’s 23-year history, just 1.3% below last year’s record of $901.99.

“Time and again, Americans prioritize spending on loved ones for holidays despite economic uncertainty,” NRF Vice President of Industry and Consumer Insights Katherine Cullen says in a news release. “With more consumers planning to seek out sale events this year, retailers are prepared to deliver on deals and value to ensure consumers have everything they need to make the holiday special.”

The survey found that 91% of U.S. adults plan to celebrate winter holidays such as Christmas, Hanukkah or Kwanzaa, consistent with recent years.

Of the projected spending, $627.93 is expected to go toward gifts for family and friends, while $262.56 will be used for seasonal items such as food or candy, decorations and greeting cards.

Early shopping continues to be common, with 42% of consumers planning to start browsing and buying before November. Among early shoppers, 54% say they do so to spread out their budget, and 41% want to avoid the stress of last-minute purchases. Despite early starts, 60% of consumers expect to finish their shopping in December.

Tariffs are also a concern for many, with 85% of shoppers anticipating higher prices due to tariffs. Nearly two-thirds (63%) say they will do most of their shopping during Thanksgiving weekend, an increase from 59% in 2024.

“Despite consumers’ economic concerns, the winter holidays remain an important occasion to celebrate with loved ones,” Prosper Executive Vice President of Strategy Phil Rist says in the release. “This is particularly true for those families with children who are expected to increase their gift budgets by more than $30 on average.”

Consumers plan to shop at a variety of locations this season. Online remains the top destination, with 55% planning to make purchases digitally. Grocery stores follow at 46%, then department stores at 44%, and discount stores at 42%.

The most desired gifts this year include gift cards (50%), clothing or accessories (46%), books and other media (27%), personal care or beauty items (23%), and electronics (22%).

The survey was conducted Oct. 1–7 among 8,247 U.S. adults and has a margin of error of plus or minus 1.1 percentage points.